The Liability Created When a Business Collects Cash from Its

question 111

Multiple Choice

The liability created when a business collects cash from its customers before completing a service or delivering a product is called ________.

• A)accrued revenue
• B)accrued expense
• C)deferred revenue
• D)prepaid expense

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Definitions:

Bronchioles

Small airways in the lungs that extend from the bronchi and lead to alveoli, facilitating the transfer of oxygen to the blood and the removal of carbon dioxide.

Pharynx

The body cavity that connects the digestive and respiratory pathways, playing a key role in swallowing and breathing.

Chemoreceptors

Sensory cells or organs specialized in detecting chemical stimuli in the environment, involved in taste and smell in animals.

Arterial Concentration

The concentration of gases, nutrients, or other substances within the arterial blood, critical for assessing the health and function of the circulatory system.