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Author Question: Classify the following items as: (1) prepaid expense, (2) unearned revenue, (3) accrued expense, or ... (Read 92 times)

FButt

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on: Jul 5, 2018
Classify the following items as: (1) prepaid expense, (2) unearned revenue, (3) accrued expense, or (4) accrued revenue. a) Fees received but not yet earned b) Fees earned but not yet received c) Paid premium on a one-year insurance policy d) Property tax owed to be paid beginning of next year

Question 2

______________________________ are repositories of relatively permanent data maintained over an extended period of time.
 Fill in the blank(s) with correct word


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LP

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Reply #1 on: Jul 5, 2018
Answer to Question 1

a) (2) unearned revenue
b) (4) accrued revenue
c) (1) prepaid expense
d) (3) accrued expense

Answer to Question 2

Master data


FButt

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Reply 2 on: Jul 5, 2018
Thanks for the timely response, appreciate it

frankwu0507

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Reply 3 on: Yesterday
Excellent

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