Accounting

The question is:

Deferred expenses have _________.

choices below got to choose from

1. not yet been recorded as expenses or paid

2. been recorded as expenses and paid

3. been incurred and paid

4. not yet been recorded as expenses

The answer that I am thinking is right, is

Not yet been recorded as an expense. am i right?

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  1. I also think number 1 is also the answer

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  2. Yea that's what I am thinking now. cause this is what i found as a defintion of deferred expense

    A cost that has been recorded in the accounting records and reported on the balance sheet as an asset until matched with revenues on the income statement in a later accounting period.

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