The Unearned Revenue Account Is an Example of a Liability

question 34

True/False

The unearned revenue account is an example of a liability.

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Definitions:

Nominal Group

A structured brainstorming process involving individuals contributing ideas independently to solve problems or make decisions.

Rank Order

The hierarchical arrangement of items or individuals based on certain criteria, reflecting their relative positions or importance.

Results-Oriented Structure

An organizational design that focuses on outcomes and results, rather than processes or inputs.

Internal Organisational

Pertaining to the inner workings and structures within an organization, such as its culture, policies, and procedures.