What are the examples for acrrued revenue?

Answer 1

Accrued revenue refers to revenue that has been incurred but not yet received. Examples of accrued revenue items might be services you have provided but that have not yet been billed or paid for. The service industries account for a large number of accrued revenue transactions, since quite often services are provided over a week, month, or even year, but aren't billed until the job is complete. One of the most basic concepts of accounting involves determining if an item is an asset or a liability. Accrued revenues are assets that unless properly accounted for, will not provide an accurate picture on the balance sheet for a business.

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