The Liability Created When a Business Collects Cash from Its

question 82

Multiple Choice

The liability created when a business collects cash from its customers before completing a service or delivering a product is called ________.

• A) accrued revenue
• B) accrued expense
• C) deferred revenue
• D) deferred expense

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Definitions:

Comfortable Position

A physical stance or posture in which one feels relaxed, at ease, and free from pain or stress.

Humour In Stress

Utilizing humor as a coping mechanism to alleviate the effects of stress.

Defence Mechanism

Unconscious mental tactics employed by people to defend themselves against anxiety or to escape from situations they are unable to deal with at the moment.

Constructive Coping

A method of dealing with stress in a positive way, employing strategies that are healthy and productive, rather than harmful or avoidant.