The Presence of an Unearned Revenue Account on a Company's

question 182

True/False

The presence of an Unearned Revenue account on a company's balance sheet indicates that the company received cash from customers prior to providing goods and services.

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Definitions:

Petty Cash Fund

A small amount of cash kept on hand for making immediate payments for minor expenses.

Auxiliary Petty Cash Record

A supplementary record for summarizing petty cash information.

First Aid Supplies

First aid supplies are materials and equipment used for providing initial care in case of illness or injury, commonly including bandages, antiseptics, and basic medical tools.

Salaries Expense

The total cost incurred by a company for paying its employees, typically recorded in the expense accounts in the general ledger.