Definitions Provide Clear, Concise Answers for the Following

question 32

Essay

Definitions
Provide clear, concise answers for the following:
1. What is the accrual basis of accounting?
2. What is an accrued expense?
3. What is accrued revenue?
4. What is a prepaid expense?
5. What is unearned revenue?
*6. State the rule that indicates which adjusting entries for prepaid and unearned items should be reversed.

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Definitions:

Zygomatic

Pertaining to the zygomatic bone, which is a bone on the side of the skull that forms the prominence of the cheek and part of the eye socket.

Biceps Brachii

A muscle of the upper arm that flexes the elbow and rotates the forearm, consisting of two heads: long and short.

Patella

The patella, commonly known as the kneecap, is a small, flat bone located in front of the knee joint. It protects the knee and connects muscles from the thigh to the lower leg.

Tendons

Fibrous connective tissues that attach muscles to bones, facilitating movement by transferring forces.