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Classify the Following Itemsprepaid Expense,unearned Revenue,accrued Expense, or Accrued Revenue

Question 179

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Classify the following itemsprepaid expense,unearned revenue,accrued expense, or accrued revenue.

Premises:

Responses:

Fees received but not yet earned.

accrued expense

Accumulated depreciation.

unearned revenue

Property tax accrual

accrued revenue.

Fees earned but not yet received.

prepaid expense

Premises:

Fees received but not yet earned.

Accumulated depreciation.

Property tax accrual

Fees earned but not yet received.

Responses:

accrued expense

unearned revenue

accrued revenue.

prepaid expense

Correct Answer:

Premises:

Responses:

Fees received but not yet earned.

Accumulated depreciation.

Property tax accrual

Fees earned but not yet received.

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