Accounting for IGCSE & O level - Preparation Of Financial Statements (Section 12 - No. 44)

In the context of accounting, what does 'accrued revenue' mean?

Revenue received in advance.

Revenue earned but not yet received in cash.

Revenue that will be earned in the future.

Revenue already received and recorded.

Accrued revenue represents revenue that has been earned by providing goods or services, but for which the cash payment has not yet been received.