Unearned Revenue Is a Prepayment That Requires an Adjusting Entry

question 249

True/False

Unearned revenue is a prepayment that requires an adjusting entry when services are performed.

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Definitions:

Ocean Plates

Large pieces of the Earth's crust that move over the partially molten outer layer, specifically those under the oceans.

Diverge

To move or extend in different directions from a common point, often used in reference to plate tectonics or paths.

Subducted Plate

A tectonic plate that is being forced downward into the mantle beneath another plate at a convergent boundary.

Continental Rifting

The process where a continental landmass breaks apart due to tectonic forces, often leading to the formation of new ocean basins.