Revenue earned but not yet received by the business is known as
A. Contra asset revenue
B. Accrued expenses
C. Accrued revenue
D. Unearned revenue
Answer: Option C
Solution(By Examveda Team)
Revenue earned but not yet received by the business is known as Accrued revenue. Accrued income is very important in accounting because companies receive advances for their goods or services all the time. To prevent overstating certain accounts, companies need to differentiate between the revenue that they have earned versus revenue that they have not earned yet.Join The Discussion
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Related Questions on Accounting
Accounting provides information on
A. Cost and income for managers
B. Company's tax liability for a particular year
C. Financial conditions of an institutions
D. All of the above
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A. Current assets
B. Fixed assets
C. Intangible assets
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A. Current assets
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B. Fixed assets
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The answer should be unearned revenue.