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Question 29: Suppose a company defers an expense. which of the following will happen first?...

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Accounting

Question 29: Suppose a company defers an expense. which of the following will happen first?

A: The company will record a decrease in cash

B: the company will record an expense

Question 30: when a company accrues revenue which of the following will happens first?

A: the company recognizes revenue

B The company collects cash payment

Question 31: what balance sheet account does a company use to defer its revenue?

A: accounts receivable

B: accrued revenue

C: prepaid revenue

D: unearned revenue

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