Accrued Revenues Are Revenues That Have Been Earned,but the Customer

question 115

True/False

Accrued revenues are revenues that have been earned,but the customer has not yet paid for the goods or services.

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Definitions:

Simple Interest

Interest calculated only on the principal amount, not on previous interest earned.

Discounted

Refers to the reduction of an item's price or the present value calculations of future cash flows using a discount rate.

Promissory Note

A financial instrument containing a written promise by one party to pay another party a definite sum of money either on demand or at a specified future date.

Promissory Note

A financial instrument involving a written promise by one party to pay another a definite sum of money either on demand or at a specified future date.