Which of the Following Accounts Would Appear on the Income

question 54

Multiple Choice

Which of the following accounts would appear on the Income Statement?

• A) Accounts receivable
• B) Unearned revenue
• C) Service revenue
• D) Accounts payable

---

Definitions:

Contracting Parties

The individuals, companies, or entities that enter into a contract agreement, thereby assuming certain obligations and responsibilities outlined in the contract.

Uniformity

Uniformity refers to the state or quality of being uniform; identical or consistent in all cases and at all times.

Transactions

The action of conducting business, trade, or an agreement between two or more parties.

UCC

The Uniform Commercial Code, a comprehensive set of laws governing commercial transactions in the United States to harmonize the law among the states.