O O O O Accrued expenses and accrued revenues involve liabilities that have not yet been recorded. Prepaid expenses, depreciation, and unearned revenues involve previously recorded assets. Prepaid expenses, depreciation, and unearned revenues involve previously recorded assets and liabilities. Prepaid expenses, depreciation, and unearned revenues involve previously recorded liabilities. Accrued expenses and accrued revenues involve assets that have not yet been recorded