An Example of A(n)____________________would Be Hearing Your Name Spoken by Someone

question 56

Short Answer

An example of a(n)____________________would be hearing your name spoken by someone else while engaged in a conversation with a friend.

---

Definitions:

Sales Taxes Payable

A liability account that represents the amount of sales tax collected from customers by a business, which is owed to the government.

Adjusting Entry

A journal entry made in the accounting records at the end of an accounting period to allocate income and expenses to the correct periods.

Unearned Revenue

Money received by a company for a service or product that has yet to be delivered or provided.

Deferred Revenue

Income received by a company for goods or services yet to be delivered or performed, recorded as a liability on the balance sheet until the goods or services are provided.