Chapter 21 Vocab
Order by
6 terms
Terms | Definitions |
|---|---|
 Accrued Expenses | Expenses incurred in one fiscal preiod but not paid until a later fiscal period. |
| Accrued Interest Expenses | Interest incurred but not yet paid. |
| Accrued Interest Income | Interest earned but not yet received. |
| Accrued Revenue | Revenue earned in one fiscal period but not received until a later fiscal period. |
| Intellecual Property | Any product that is protected by patents, trademarks, and copyrights. |
| Reversing Entry | An entry made at the beginning of one fiscal period to reverse an adjusting entry made in the previous fiscal period. |
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