The general term employed to indicate an expense that has not been paid or revenue that has not been received and has not yet been recognized in the accounts is:

A. asset.

B. accrued.

C. prepayment.

D. contra asset.

Answer: The general term employed to indicate an expense that has not been paid or revenue that has not been received and has not yet been recognized in the accounts is:

B. accrued.

Explanation: It is the accounting principle by which recognition of losses and gains is given based on time, regardless of having paid or collected.