Match the statements below with the appropriate terms by entering the appropriate letter code in the spaces provided.
TERMS:
A. Prepaid Expenses
B. Unearned Revenues
C. Accrued Revenues
D. Accrued Expenses
STATEMENTS:
____ 1. A revenue not yet recognized; collected in advance.
____ 2. An expense incurred; not yet paid or recorded.
____ 3. A revenue recognized; not yet collected or recorded.
____ 4. An expense not yet incurred; paid in advance.