Income earned but not yet received or recorded.Select one:a.Prepaid Expensesb.Accrued Incomec.Prepaid Expensesd.Closing entries
Question
Solution 1
The correct answer is b. Accrued Income. This is income that has been earned but not yet received or recorded. It is recognized through an adjusting journal entry at the end of a accounting period. Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem. Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem. Knowee
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