The Classification and Normal Balance of the Unearned Revenue Account

question 135

Multiple Choice

The classification and normal balance of the unearned revenue account is

• A)asset, debit.
• B)liability, credit.
• C)revenues, credit.
• D)shareholders' equity, credit.

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Definitions:

Convergent Thinking

A cognitive approach involving the bringing together of different ideas to determine the single best solution to a given problem.

Parallel Processing

The ability of the brain to simultaneously process incoming stimuli of differing quality, a fundamental mechanism for understanding complex scenarios.

Serial Processing

A cognitive process in which the brain analyzes information sequentially, one operation at a time.