An expense that has been incurred but not yet paid or invoiced. Question 11 options: Budgeted expense Accrued expense Provisional expense Question 12 (1 point) Accounting that records only transactions in which cash is received or paid. Question 12 options: Cash-basis accounting Accounts receivable Accounts payable Question 13 (1 point) An adjustment related to a transaction for which a business has received or paid cash in advance of delivering or receiving goods or services. Question 13 options: Deferral Advance Account adjustment Question 14 (1 point) A measure of how quickly an asset can be converted to cash. Question 14 options: Depreciation Liquidity Debt