Accrued Expenses & Revenues: Definition & Examples


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What is the most common accounting method used by businesses?

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1. What is money that is earned in one accounting period but not received until another?

2. What are expenses incurred in one accounting period but not paid until another?

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About This Quiz & Worksheet

What is the difference between accrued expenses and revenues, and how are these recorded for accounting purposes? This quiz/worksheet combo will gauge your understanding of these processes.

Quiz and Worksheet Goals

In these assessments, you'll be tested on:

  • The name of the most common business accounting method
  • The terms used to indicate money earned but not received and expenses incurred but not paid in an accounting period
  • Common forms of accrued expenses and revenues

Skills Practiced

This worksheet and quiz will allow you to test the following skills:

  • Reading comprehension- ensure that you draw the most important information from the related lesson about how accrued expenses and revenues are recorded
  • Defining key concepts - ensure that you can accurately define main phrases, such as salaries payable and interest revenue
  • Knowledge application - use your knowledge to answer questions about the types of accrued expenses and revenues

Additional Learning

To learn more about this topic, review the accompanying lesson called Accrued Expenses & Revenues: Definition & Examples. This lesson covers the following objectives:

  • Define accrual methods
  • Identify accrued expenses and accrued revenues
  • Discuss types of accrued expenses and revenues
  • Provide detailed examples of terms discussed in the lesson