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Which incurred but unpaid expenses that are recorded

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Problem 1: Unearned revenue is reported in the financial statements as:

Multiple Choice

A. A revenue on the balance sheet.

B. A liability on the balance sheet.

C. An unearned revenue on the income statement.

D. An asset on the balance sheet.

E. A financing activity on the statement of cash flows.

Problem 2: Incurred but unpaid expenses that are recorded during the adjusting process with a debit to an expense and a credit to a liability are:

Multiple Choice

A. Intangible expenses.

B. Prepaid expenses.

C. Unearned expenses.

D. Net expenses.

E. Accrued expenses.

Reference no: EM132714621

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