The Difference Between Deferred Revenue and Accrued Revenue Is That

question 1

True/False

The difference between deferred revenue and accrued revenue is that accrued revenue has been recorded and needsadjusting and deferred revenue has never been recorded.

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Definitions:

Estimated Useful Life

The anticipated period over which an asset is expected to be used before it is fully depreciated.

Units-of-production

A method of depreciation based on an asset's usage, activity, or parts produced rather than passing time.

Depreciation Expense

The systematic allocation of the cost of a tangible asset over its useful life, reflecting wear and tear or obsolescence.

Molding Machine

A machine used in manufacturing to shape liquid or pliable material using a rigid frame called a mold or matrix.