Which term best describes income that has occurred but is not yet received in cash?

The term that best describes income that has occurred but is not yet received in cash is accounts receivable. This represents amounts owed to a business for goods or services that have already been delivered or performed, but for which payment has not yet been made. Essentially, it indicates that the revenue has been recognized in the financial statements, even though the physical cash has not yet been received.

In accounting terms, accounts receivable is recorded as an asset on the balance sheet, highlighting that the company has a claim for future cash inflows. This recognizes the accrual basis of accounting, where income is recognized when it is earned, rather than when cash is actually collected.

Other terms like cash flow are more related to the actual movement of cash in and out of a business, and therefore do not adequately describe income that has been recognized but is still outstanding. Similarly, retained earnings refer to the cumulative amount of profits that a company has retained, rather than distributed as dividends. Revenue is broader and encompasses the total income generated from normal business operations, without specifying whether that income has been collected in cash or not.