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The term deferral best describes a situation in which: A . cash is paid in advance of recognizing an expense. B . an expense is

The term deferral best describes a situation in which:

.

cash is paid in advance of recognizing an expense.

.

an expense is recognized before it is paid for with cash.

.

an expense is recognized after cash has been received.

.

a liability is established at the time an expense is recognized.

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