When an expense is paid in cash before it is used it is called?

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Aiyana Aufderhar asked a question: When an expense is paid in cash before it is used it is called?
Asked By: Aiyana Aufderhar
Date created: Wed, May 26, 2021 5:27 PM
Date updated: Tue, Jun 28, 2022 8:50 AM

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When an expense is paid in cash before it is used, it is called a(n) a. prepaid expense.

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4. A prepaid expense is an expense paid in cash and recorded as an asset before it is used.

27. When an expense is paid in cash before it is used, it is called a(n) A) prepaid expense. B) accrued expense. C) estimated expense. D) cash expense.

When an expense is paid in cash before it is used, it is called a (n) A. cash expense. B. estimated expense. C.prepaid expense. D. accrued expense.

An accrued expense is A) an expense for which cash is paid before the expense is incurred. B) an expense that has been incurred but for which payment has not yet been made. C) initially recorded as an asset. D) an expense

deferred expense: A deferred expense or prepayment, prepaid expense, is an asset representing cash paid out to a counterpart for goods or services to be received in a later accounting period. accrued expense : Accrued expense is a liability with an uncertain timing or amount, the reason being no invoice has been received yet.

Under cash-basis accounting, (Select all that apply.) A. expenses are recorded in the period related revenue is generated. B. revenues are recorded when goods or services are provided. C. expenses are recorded when cash is paid.

Accrued Expenses and Prepaid Expenses. A related concept under accrual accounting is prepaid expenses. Accrued expenses represent the expenditures incurred before cash is paid, but there are also cases where cash is paid before the expenditures are incurred. Such expenditures are known as prepaid expenses.

When rent is paid in advance for 2 years, it is appropriately recorded as a(n) _____, whereas when rent is paid and used during one month, it is appropriately recorded as a(n) _____. (Enter one word per blank) cash received before ...

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