When an Unearned Revenue Is Initially Recorded as a Revenue

question 105

Multiple Choice

When an unearned revenue is initially recorded as a revenue, the adjusting entry would include a:

• A)debit to a liability.
• B)credit to a liability.
• C)debit to an asset.
• D)credit to revenue.

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Definitions:

Neutrality Acts

A series of laws passed by the United States in the 1930s aimed at preventing American involvement in future foreign conflicts by limiting trade and travel with nations at war.

Fascist Aggression

The expansionist policies and acts of aggression carried out by fascist regimes, notably those of Germany and Italy in the lead-up to and during World War II.

Spanish Civil War

A military conflict from 1936 to 1939 between the Republicans, who were loyal to the democratic Spanish Republic, and the Nationalists, a rebel group led by General Francisco Franco.

Francisco Franco

A Spanish general who led the Nationalist forces to victory in the Spanish Civil War and governed Spain as a dictator from 1939 until his death in 1975.