Entries That Record an Expense Before the Cash Is Paid

question 158

Multiple Choice

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

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

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Definitions:

Draft

A preliminary version of a document, plan, or strategy, subject to revision and refinement.

Negotiable Instrument

A document guaranteeing the payment of a specific amount of money, either on demand or at a set time.

Unauthorized Signer

An individual who signs a document or agreement without the legal authority or permission to do so.

Ratified

Confirms or approves an action, document, or agreement officially, making it valid and enforceable.