Recording the Collection of Three Months of Advance Rent from a Client

question 86

Multiple Choice

Recording the collection of three months of advance rent from a client in an unearned account would be an example of a(n) :

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

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Definitions:

Deductive Approach

The deductive approach is a logical process in research and reasoning that starts with a general statement or hypothesis and examines the possibilities to reach a specific, logical conclusion.

Sales Promotional Material

Documents or media utilized to increase awareness or sales of a product or service.

Counterproposal

An alternative proposal made in response to an original offer that does not meet one's satisfaction.

Legal Risks

Potential threats of legal action that could arise from engaging in certain behaviors or business practices.