Unearned Revenue Is Reported as A(n)

question 67

Multiple Choice

Unearned revenue is reported as a(n)

• A) current liability on the balance sheet.
• B) contra-asset account on the chart of accounts.
• C) owner's equity account on the work sheet.
• D) asset on the balance sheet.

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Definitions:

Mentally Anticipate

The act of forecasting or predicting future events or reactions with the mind.

Behavior Modeling

A teaching method in which the desired behavior is demonstrated and learners are then guided to imitate the behavior.

Communication Skills

The ability to convey or share ideas, feelings, and information effectively to others through speaking, writing, or other mediums.

Technology Skills

The ability to effectively use technological tools and devices.