The General Term Employed to Indicate an Expense That Has

question 73

Multiple Choice

The general term employed to indicate an expense that has not been paid or revenue that has not been received and has not yet been recognized in the accounts is:

• A)contra asset.
• B)prepayment.
• C)asset.
• D)accrued.

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Definitions:

Morality

Principles concerning the distinction between right and wrong or good and bad behavior.

Hypothetical Situations

Scenarios or conditions that are imagined for the purpose of discussion, analysis, or experimentation, often used in problem-solving and decision-making processes.

Formal Operational

The stage of cognitive development, according to Jean Piaget, in which individuals develop the ability to think abstractly, logically, and systematically.

Preconventional

The first level in Kohlberg's stages of moral development, where morality is externally controlled and children act under external standards.