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4 December, 16:52

The general term employed to indicate an expense that has not been paid or revenue that has not been received and has not yet been recognized in the accounts is:

A. asset.

B. accrued.

C. prepayment.

D. contra asset.

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  1. 4 December, 17:10
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    Answer: The general term employed to indicate an expense that has not been paid or revenue that has not been received and has not yet been recognized in the accounts is:

    B. accrued.

    Explanation: It is the accounting principle by which recognition of losses and gains is given based on time, regardless of having paid or collected.
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