Items for which we have received payment, but have not yet delivered the service, are called:
A)referrals.
B)deferrals.
C)accruals.
D)non-cash items.

Question

Quizplus · Accepted Answer

Deferrals refer to items for which payment has been received, but the service or product has not yet been provided. Referrals refer to customers or clients who are directed to a business by other individuals or entities. Accruals refer to expenses or revenues that have been recognized but not yet paid or received, while non-cash items include items such as depreciation or amortization. Therefore, the best choice for items for which payment has been received but the service has not yet been provided is B, deferrals.

Items for Which We Have Received Payment, but Have Not