Accountıng I Deneme Sınavı Sorusu #1313706
A company pays the rent in cash on the 15th of each month but records it at the beginning of the same month.
Which of the following explains the situation for this company?
|
matching principle |
|
deferred expense |
|
prepaid expense |
|
deferred revenue |
|
accrued expense |
Yanıt Açıklaması:
In accrued expense, expense is recognized before the cash is paid.
The correct answer is E.
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