Career Paths Accounting 2 Unit 9

to transfer an amount from one period to another

the length of time for repaying borrowed money

a document stating what is owed

amounts that are accumulated over time

Unused vacation days carry over to the following year.

• TRUE

• FALSE

If salespeople reach their target, they will get a

Unused vacation days must be recorded as a(n)

Calculate this year's taxes and record the amount in

• income tax payable

• accrued expense payable

Debt payments are made ____ the cash account.

• via

• by

• to

• of

What should a company do with an unbilled expense?

• They can account for them via two types of payable accounts.

• They can pay in increments throughout the following year.

• Businesses have to calculate and record expenses.

• They have to pay it right away.