As Unearned Rent Is Earned, It Becomes

question 58

Multiple Choice

As Unearned Rent is earned, it becomes

• A) an asset.
• B) a revenue.
• C) a liability.
• D) an expense.

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Definitions:

Accumulated Depreciation

The total amount of depreciation expense that has been recorded for an asset since it was placed in service, reducing its book value.

Cash Dividends

are profit distributions made by a corporation to its stockholders in the form of cash.

Accounts Receivable

Money owed to a business by its clients or customers for goods or services delivered but not yet paid for.

Income Statement

A financial statement that shows a company's revenues, expenses, and profit or loss over a specific period of time.