Accountancy, asked by Akashabhi8855, 10 months ago

What is the meaning of deferred revenue and expenditure give examples

Answers

Answered by susmita1234

1

Upon delivery of the good or service to the customer, thedeferred revenue is reclassified as an asset. An example of deferred revenue is when a cleaning company accepts the prepayment of its monthly fee for its services in advance for a whole year. The company agrees to providecleaning services for that year
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