Which of the Following Results in an Expenditure

question 52

Multiple Choice

Which of the following results in an expenditure?

• A) Place a purchase order.
• B) Receive goods previously ordered.
• C) Receive an invoice on goods previously received.
• D) Payment of an invoice previously received.

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Definitions:

Accrued Interest

Interest that has been incurred but not yet paid, often related to bonds or loans.

Note Receivable

A written promise that a certain amount of money will be paid at a future date, representing an asset for the holder.

Interest Revenue

Income earned by an entity from lending money or through investments in interest-bearing assets.

Deferred Revenue

Deferred Revenue is income a company has received for goods or services that have yet to be delivered or performed, recorded as a liability on the balance sheet.