Which term describes revenues for services performed but not yet received in cash or recorded?

The term that accurately describes revenues for services performed but not yet received in cash or recorded is accrued revenues. Accrued revenues occur when a company has provided a service or delivered a product but has not yet received payment. This is an essential concept within the accrual accounting framework, which recognizes revenue when it is earned, rather than when cash is received.

In practice, accrued revenues help ensure that financial statements reflect the true economic activity occurring in a period, allowing for a more accurate representation of a company’s financial position. This aligns with the matching principle in accounting, which dictates that revenues should be matched to the expenses incurred in earning them.

This understanding is vital for accurately preparing financial statements and for stakeholders who rely on this information to make informed decisions about an entity's financial health.