________ are incomes pertaining to a later accounting period for which money is already received.

Revenue in advance

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Accrued income

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Both A & B

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None of these

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Solution

The correct option is A
Revenue in advance

Revenue in advance are incomes pertaining to a later accounting period for which money is already received.

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Similar questions

State the meaning of

(a) Outstanding expenses

(b) Prepaid expenses

(d) Accrued income

State the meaning of:

(a) Outstanding expenses

(b) Prepaid expenses

(d) Accrued income

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