A Deferral Refers to an Event

question 101

Multiple Choice

A deferral refers to an event:

• A) where the recognition of an expense or revenue is recorded before the cash is paid or received
• B) where the liability for an expense is recorded after the expense is actually incurred
• C) where the liability for an expense is recorded before the expense is actually incurred
• D) where the recognition of an expense or revenue is recorded after the cash is paid or received

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Definitions:

Scoria Cones

Volcanic cones built from fragments of lava ejected from a single vent, typically with steep slopes.

Nonexplosive Eruptions

Volcanic eruptions characterized by the gentle outpouring of lava without significant explosive activity or the production of large ash clouds.

Shield Volcanoes

Shield volcanoes are broad, domed-shaped volcanoes with gentle slopes, formed by the eruption of low-viscosity lava that can flow long distances.

Fissure Eruptions

A type of volcanic eruption characterized by the release of lava from long, narrow cracks or fissures in the planet's surface.