A Liability That Arises from an Expense That Has Not

question 21

Multiple Choice

A liability that arises from an expense that has not yet been paid is a(n) :

• A) unearned expense.
• B) prepaid expense.
• C) accrued expense.
• D) accrued revenue.

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Definitions:

Form Tolerances

The allowable variations in the shape and appearance of manufactured parts.

Straightness

The measure of how closely a line or feature aligns with a true straight line, often evaluated to ensure precision in manufactured parts.

Circularity

The degree to which a form or surface approaches a perfect circle, often a crucial factor in precision engineering.

Angularity

A condition of having a specified angle or orientation in relation to a datum or reference plane, used in precision manufacturing and machining.