Classify the following items as:
(1) prepaid expense,
(2) unearned revenue,
(3) accrued expense, or
(4) accrued revenue.a) Fees received but not yet earnedb) Fees earned but not yet receivedc) Paid premium on a one-year insurance policyd) Property tax owed to be paid beginning of next year

Question

Classify the following items as: 
(1) prepaid expense, 
(2) unearned revenue, 
(3) accrued expense, or 
(4) accrued revenue.​a) Fees received but not yet earnedb) Fees earned but not yet receivedc) Paid premium on a one-year insurance policyd) Property tax owed to be paid beginning of next year

Quizplus · Accepted Answer

The Answer of Classify the following items as: 
(1) prepaid expense, 
(2) unearned revenue, 
(3) accrued expense, or 
(4) accrued revenue.​a) Fees received but not yet earnedb) Fees earned but not yet receivedc) Paid premium on a one-year insurance policyd) Property tax owed to be paid beginning of next year

Classify the Following Items As