Entries That Record an Expense Before the Cash Is Paid

question 41

Multiple Choice

Entries that record an expense before the cash is paid are:

• A)unearned revenues.
• B)prepaid expenses.
• C)accrued expenses.
• D)accrued revenues.

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Definitions:

Lecithin

A fatty substance found in plant and animal tissues, composed of phospholipids, and is used as an emulsifier in food and pharmaceutical products.

Diterpene

A type of terpene consisting of four isoprene units, making up 20 carbon atoms, often found in essential oils and used in medicines and perfumes.

Prostaglandin

A collection of lipid compounds that are physiologically active and exhibit various hormone-like actions in animals.

Carboxyl Group

A functional group consisting of a carbon atom double-bonded to an oxygen atom and single-bonded to a hydroxyl group, denoted as -COOH in organic compounds.