Which Statement About Deferred Revenue Is Correct

question 54

Multiple Choice

Which statement about deferred revenue is correct?

• A)Deferred revenue is a financial liability.
• B)Deferred revenue is a non-financial liability.
• C)Deferred revenue is a held for trading financial liability.
• D)Deferred revenue arises when the contract is signed.

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Definitions:

Ironic Mimicry

describes a situation or behavior where imitation is used sarcastically or humorously, often to critique or mock the original.

Parody Display

A humorous or satirical imitation of someone or something, often used in advertising or entertainment to engage or appeal to an audience.

Potlatch

A ceremonial feast among certain Native American peoples of the northwestern United States and Canada, involving the generous giveaway or destruction of property to affirm or enhance one's status.

Kwakiutl Indians

The Kwakiutl Indians are a Native American tribe primarily located in the Pacific Northwest of Canada, known for their rich cultural traditions, totem poles, and potlatch ceremonies.