Revenue that has been earned but not yet collected in cash is called a(n)________.
A) accrued revenue
B) deferred expense
C) deferred revenue
D) accrued expense

Question

Quizplus · Accepted Answer

Accrued revenue is revenue that has been earned but not yet received in cash. Deferred expense refers to payments made in advance for goods or services that are not yet received. Deferred revenue refers to payments received in advance for goods or services that are not yet provided. Accrued expense refers to expenses that have been incurred but not yet paid.

Revenue That Has Been Earned but Not Yet Collected in Cash