Answered: An item that represents services…

An item that represents services already provided by a firm for which it will receive payment in the future is called_ a prepaid expense an accrued revenue an unearned revenue O an accrued expense

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter7: Fixed Assets, Natural Resources, And Intangible Assets

Section: Chapter Questions

Problem 7.1.3P

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Question

ASAP answer the subquestions

An item that represents services already provided by a firm for which it will receive payment in
the future is called_
O a prepaid expense
an accrued revenue
an unearned revenue
O an accrued expense
Which of the following assets is not subject to depreciation?
Office equipment
O Computer unit
Furniture and fixtures
O Land

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