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Regarding ESP research and its findings, which of the following statements is FALSE?
Deferral Adjusting Entry
An accounting entry made to defer revenue or expense to a future period.
Unearned Revenue
Money received by a business for services or products yet to be delivered or completed.
Interest Revenue
Income earned from lending funds or investing in interest-bearing financial instruments.
Adjusting Entry
A journal entry made at the end of an accounting period to allocate income and expenditure to the appropriate period.
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