Accounting III - Chapter 21
Quiz
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Other
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12th Grade
•
Hard
Kris Miller
Used 7+ times
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23 questions
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1.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Expenses incurred in one fiscal period but not paid until a later fiscal period.
deferral
accrual
accrued expenses
deferred expenses
2.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Payments for goods or services which have not yet been received.
accrued expenses
deferred expenses
deferred revenue
accrued interest expense
3.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
An entry made at the beginning of one fiscal period to reverse an adjusting entry made in the previous fiscal period.
correcting entry
reversing entry
adjusting entry
none of the above
4.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
An entry recording revenue before the cash is received, or an expense before the cash is paid.
accrual
deferral
deferred revenue
deferred expenses
5.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Cash received for goods or services which have not yet been provided.
accrual
deferral
deferred revenue
accrued interest expense
6.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Interest incurred but not yet paid
accrued interest expense
deferred interest expense
interest expense
none of the above
7.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
An entry recording the receipt of cash before the related revenue is earned, or payment of cash before the related expense is incurred
accrual
deferral
deferred revenue
deferred expenses
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