Examlex
The scientific method consists of the following three basic steps:
Unearned Consulting Revenue
Revenue received for services that have not yet been performed or delivered and is recorded as a liability until the service is provided.
Consulting Revenue
Income generated from providing expert services to clients on a professional basis.
Down Payment
An initial upfront portion of the total amount due that is paid at the time of purchase, often in the context of buying property or high-value items.
Accrued Expenses
Expenses that have been incurred but not yet paid for, recognized in the accounting period they are incurred, not when they are paid.
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