Examlex
What is a data dictionary?
Prepaid
Expenses paid in advance for goods or services, which are then recognized over time as the benefits are received.
Accrued Expenses
Expenses that have been incurred but not yet paid or recorded in the financial statements, representing liabilities.
Accrued Revenues
Accrued revenues are earnings recorded in the financial statements for goods delivered or services provided, although no cash has been received yet.
Prepaid Items
Prepaid items refer to expenses paid in advance for goods or services to be received in the future.
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