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Furkat [3]
1 year ago
9

The general term used to indicate delaying the recognition of an expense already paid or of a revenue already received is

Business
1 answer:
slavikrds [6]1 year ago
5 0

deferral is the answer.

A deferral in accrual accounting is an account on which income or expenses are recorded at a later date. Pensions, surcharges, taxes, income, etc. Accruals and deferrals can be viewed as either assets or liabilities, depending on the type of accrual. See also boundaries.

deferral means money paid or received before the product or service is offered. Here is an example of postponement: Insurance fee. Subscription-based services (newspapers, magazines, TV shows, etc.) Prepaid rental.

deferral is a payment made in one accounting period but not reported until the next accounting period. For example, if you made a payment at the end of the year but did not report until the new year, this will be postponed.

Learn more about deferral here:brainly.com/question/16967814

#SPJ4

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Have Americans always shared the same social and economic goals throughout history?
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<em>Yes, Americans always shared the same social and economic goals throughout history.</em>

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Entrepreneurs are provided with what when starting a franchise?
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As a result of a thorough physical inventory, Coronado Company determined that it had inventory worth $321000 at December 31, 20
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The correct cost of inventory that Coronado should report is $367300

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The goods sent on consignment still belong to the consignor until they are sold off by the consignee. So, the consignor should add the unsold consignment goods in its inventory. Thus we will add the cost of goods sent on consignment to the value of inventory.

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Thus, the correct cost of inventory that Coronado should report is $367300

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