Accrued Revenue Is Revenue That ________

question 109

Multiple Choice

Accrued revenue is revenue that ________.

• A) has been collected and earned
• B) the business has collected in cash, but not yet earned
• C) the business has earned, but not yet collected in cash
• D) will be collected and earned in the future

---

Definitions:

Non-current Asset

Assets not expected to be converted into cash, consumed, or utilized within one year of the balance sheet date, including property, plant, and equipment.

IFRS

International Financial Reporting Standards, a set of global accounting standards developed by the International Accounting Standards Board.

Contingent Liabilities

Potential liabilities that may occur depending on the outcome of a future event.

Contingency

An uncertain event or condition that can have a positive or negative impact on a company's financial position if it occurs.