Unearned Revenues Are Generally

question 96

Multiple Choice

Unearned revenues are generally:

• A)Revenues that have been earned and received in cash.
• B)Revenues that have been earned but not yet collected in cash.
• C)Liabilities created when a customer pays in advance for products or services before the revenue is earned.
• D)Recorded as an asset in the accounting records.
• E)Increases to owners' capital.

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Definitions:

Unethical Behavior

Actions that violate moral or professional principles, often leading to negative consequences.

Illegal Behavior

Actions that violate laws and are punishable by the legal system.

Changing Technology

The ongoing evolution and advancement of tech tools, systems, and devices, impacting various aspects of life and business.

Communication

The act of conveying information or expressing ideas, feelings, or instructions through verbal, non-verbal, written, or visual means to achieve understanding or exchange.