A. Fictitious assets
B. Quick asset
C. Real asset
D. Outstanding asset
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The correct answer to the question: "Income earned but not received is called ____________?" is "Outstanding asset".
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12 Comments
Income earned but not yet received is called accrued income. Kindly make changes in it.
Regards
Ishfaq
Outstanding assets are those asseets over which the company has no immediate claim but which are recovverable at a later date of which cannot be converted into cash immediately. A few examples. Income Receivable. Prepaid Expenses.
if you can see the multiple choices. it will be clear to you that this question is about assets. your answer is also correct.