According to a 2012 Survey by Deloitte Consulting, the Most

question 21

Multiple Choice

According to a 2012 survey by Deloitte Consulting, the most popular outsourced activity was

• A) marketing.
• B) sales.
• C) finance.
• D) R&D.
• E) information technology.

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Definitions:

Accounts Receivable

Receivables from clients to a corporation for products delivered or services rendered without payment.

Unearned Subscription Revenue

Unearned subscription revenue represents money received by a company for subscriptions or services not yet provided or delivered, recognized as a liability until the service is fulfilled.

Unearned Rent

Income received by a landlord for a period of rent not yet occurred; it's considered a liability until the service period passes.

Adjusting Entry

An accounting journal entry made at the end of an accounting period to allocate income and expenditure to the appropriate years, ensuring financial statements are accurate.