Annual property taxes that are paid at the end of the year.

A) Prepaid expense
B) Accrued expense
C) Unearned revenue
D) Accrued revenue
E) None of these choices

Question

Annual property taxes that are paid at the end of the year.A) Prepaid expenseB) Accrued expenseC) Unearned revenueD) Accrued revenueE) None of these choices

Kayla Weinzierl · Accepted Answer

Final Answer : B, Explanation :  Annual property taxes paid at the end of the year are considered an accrued expense because the expense accumulates over time but is not paid until the end of the period.

Annual property taxes that are paid at the end of the year.

A) Prepaid expense
B) Accrued expense
C) Unearned revenue
D) Accrued revenue
E) None of these choices

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