If a company earns $10,000 but has not yet received it, what is the correct classification of this revenue?

The correct classification of the revenue in this scenario is accrued revenue. Accrued revenue refers to income that has been earned by a company for services rendered or goods delivered but has not yet been received in cash. This means that the company has performed its obligation to provide goods or services, and it recognizes the revenue even though payment has not been collected yet.

This concept is an essential part of the accrual basis of accounting, which dictates that revenues should be recognized when they are earned, regardless of when the cash is received. In this case, since the company has earned $10,000 but has not yet received it, it would record this amount as accrued revenue on its financial statements, reflecting what is owed to it.

The other classifications do not apply here. Unearned revenue refers to payments received for services or products that have not yet been delivered, which does not match the situation described. Deferred expense relates to payments made in advance for expenses that will be recognized in the future, also unrelated to revenue recognition. Realized revenue typically indicates that cash has been received, which is not the case in this instance. Therefore, accrued revenue is the accurate designation for the $10,000 earned but not yet received.