ACC 421 Final Exam
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ACC 421 Final Exam 1
Latest notes & summaries ACC 421 Final Exam
1) An accrued expense can best be described as an amount
A. paid and currently matched with earnings.
B. not paid and not currently matched with earnings.
C. not paid and currently matched with earnings.
D. paid and not currently matched with earnings.
2) When an item of revenue is collected and recorded in advance, it is normally called a(n) ___________ revenue.
A. unearned
B. prepaid
C. accrued
D. cash
3) When an item of expense is paid and recorded in advance, it is normally called a(n)
A. es...
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ACC 421 Final Exam•ACC 421 Final Exam
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1) An accrued expense can best be described as an amount
A. paid and currently matched with earnings.
B. not paid and not currently matched with earnings.
C. not paid and currently matched with earnings.
D. paid and not currently matched with earnings.
2) When an item of revenue is collected and recorded in advance, it is normally called a(n) ___________ revenue.
A. unearned
B. prepaid
C. accrued
D. cash
3) When an item of expense is paid and recorded in advance, it is normally called a(n)
A. es...