If an Unearned Revenue Is Initially Recorded as a Revenue

question 143

True/False

If an unearned revenue is initially recorded as a revenue, the end-of-period adjusting entry records the unexpired portion.

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Definitions:

Unconscious Mental Forces

Deep-seated drives and instincts that influence thoughts and behaviors, central to psychoanalytic theory.

Behaviour

Observable actions of humans or animals in response to external or internal stimuli.

Oedipal Complex

A theory in psychoanalytic psychology describing a child's feelings of desire for the opposite-sex parent and jealousy towards the same-sex parent.

Male Child

A young human being of the male sex.