The Term Used to Describe an Expense That Has Not

question 27

Multiple Choice

The term used to describe an expense that has not been paid and has not yet been recognized in the accounts by a routine entry is

• A) prepaid
• B) deferred
• C) accrued
• D) matched

Learn about the application of the matching and materiality principles in accounting.

Understand the role and impact of credit card transactions on company finances.

Grasp the reasoning behind and methods for extending credit through credit cards.

Identify the purposes and characteristics of promissory notes in financial transactions.

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Definitions:

Oscillation Frequency

The rate at which an object or system oscillates, usually measured in cycles per second or Hertz (Hz).

Dampen

Synonymous with damp.

Suspension Components

Parts like springs, shock absorbers, and struts that are used to support a vehicle's frame, body, engine, and systems while driving over uneven surfaces.

Spring Shackles

Components used to attach leaf springs to the frame of a vehicle, allowing for movement and flexibility in the suspension system.