Unearned Revenue Is Reported in the Financial Statements as

question 19

Multiple Choice

Unearned revenue is reported in the financial statements as

• A)An asset on the balance sheet.
• B)A revenue on the balance sheet.
• C)A liability on the balance sheet.
• D)An unearned revenue on the income statement.
• E)An operating activity on the statement of cash flows.

---

Definitions:

Social Control

Mechanisms, both formal and informal, employed by a society to regulate individual and group behavior, conforming to established norms and laws.

Mass Medium

Forms of communication, such as television, newspapers, and the internet, designed to reach large audiences and influence the views and behaviors of the public.

Radio

A medium for broadcasting audio content to the public over the airwaves, using electromagnetic waves to transmit news, music, and other programming.

Newspapers

Printed publications consisting of sheets of papers, usually issued daily or weekly, containing news, feature articles, advertisements, and other items of general interest.