When revenue or expense has been recognized or incurred but

When revenue or expense has been recognized or incurred but not yet collected or paid, it is normally called a(n) ____________ revenue or expense.

a. deferred

b. adjusted

c. estimated

d. None of these

Solution

Solution: none of these

Explanation: When revenue or expense has been recognized or incurred however not yet collected or paid, it is usually called accrued expenses