When an Unearned Revenue Is Initially Recorded as a Liability

question 73

Multiple Choice

When an unearned revenue is initially recorded as a liability, the adjusting entry includes ________.

• A) a credit to a liability
• B) a credit to a revenue
• C) a debit to a revenue
• D) a debit to an expense

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Definitions:

Singles

Individuals who are not married or in a romantic relationship.

Growing Old

The process of aging, marked by the gradual decline in physical and sometimes mental capacity, and the transition through various phases of life towards the end of the lifespan.

Dying Alone

The experience of passing away without the presence or support of loved ones or acquaintances.

Postponing Marriage

Choosing to delay marriage until a later age than traditionally observed.