Select the one term that best fits each definition
-An entry recording the receipt of cash before the related revenue is earned, or payment of cash before the related expense is incurred.
A) accrual
B) accrued interest expense
C) accrued expenses
D) deferral
E) deferred expenses
F) deferred revenue
G) reversing entry

Question

Quizplus · Accepted Answer

Deferral refers to the accounting process of delaying the recognition of certain transactions until a future period when they are actually earned or incurred, which matches the description given.

Select the One Term That Best Fits Each Definition