The Primary Difference Between Prepaid and Accrued Expenses Is That

question 109

Multiple Choice

The primary difference between prepaid and accrued expenses is that prepaid expenses have

• A)been incurred and accrued expenses have not.
• B)not been paid and accrued expenses have.
• C)been paid and accrued expenses have not.
• D)not been recorded and accrued expenses have.

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Definitions:

Goods Packaged

Refers to products that have been wrapped, boxed, or presented in some form of packaging before sale or shipment.

Uniform Electronic Transactions Act

Legislation adopted by some jurisdictions to establish legal equivalence between electronic records and signatures and their paper counterparts, facilitating the legality of digital transactions.

UETA

The Uniform Electronic Transactions Act, which establishes legal recognition for electronic signatures and records in commercial transactions.

Electronic Transactions

Deals or exchanges of goods, services, or information conducted over electronic systems such as the internet.