Match the Type of Account (A Through E) with the Business

question 113

Multiple Choice

Match the type of account (a through e) with the business transactions that follow.
-Services provided that have not been recorded.

• A)Prepaid expense
• B)Accrued expense
• C)Unearned revenue
• D)Accrued revenue
• E)None of these choices

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Definitions:

Excess Profits

Profits that exceed the normal expected return on investment, often resulting from monopoly power or a unique competitive advantage.

Rate of Return

The gain or loss on an investment over a specified period, expressed as a percentage of the investment's initial cost.

Marginal Costs

The price increase resulting from the creation of an additional unit of a product or service.

Marginal Costs

The heightened cost linked to the creation of an extra unit of a product or service.