Select all that apply

Which of the following describes accrued revenue? (Check all that apply.)

They refer to revenues that are earned in a period, but have not been received and are unrecorded.

They refer to earnings which have been earned but not yet billed.

The adjustment causes an increase in an asset account and an increase in a revenue account.

Accounts receivable is usually increased when accruing revenues.

Adjustments involve increasing both an expense account and a liability account.