Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
10 Cards in this Set
- Front
- Back
|
Accrual,
|
An entry recording revenue before the cash is received, or an expense before the cash is paid.
|
|
|
Accrued expenses
|
Expenses incurred in one fiscal period, but not paid until a later fiscal period.
|
|
|
Accrued interest expense
|
Interest incurred but not yet paid.
|
|
|
Deferral
|
An entry recording the receipt of cash before the related revenue is earned, or payment of cash before the related expense is incurred.
|
|
|
Deferred expenses
|
Payments for goods or services which have not yet been received.
|
|
|
Deferred revenue
|
Cash received for goods or services which have not yet been provided.
|
|
|
Intellectual property
|
Anything, or any process, that is protected by patent, trademark, or copyright. See also, intangible asset.
|
|
|
Prepaid expenses
|
See deferred expenses.
|
|
|
Reversing entry
|
An entry made at the beginning of one fiscal period to reverse an adjusting entry made in the previous fiscal period.
|
|
|
Unearned revenue
|
See deferred revenue.
|
