Match the type of account (a through e) with the business transactions that follow.
-Annual property taxes that are paid at the end of the year.
A)Prepaid expense
B)Accrued expense
C)Unearned revenue
D)Accrued revenue
E)None of these choices

Question

Quizplus · Accepted Answer

Annual property taxes paid at the end of the year are considered an accrued expense because the expense accumulates over time but is not paid until the end of the period.

Match the Type of Account (A Through E) with the Business