Which of the Following Correctly Describes the Unearned Revenue Account

question 92

Multiple Choice

Which of the following correctly describes the unearned revenue account?

• A)The unearned revenue account represents revenue that has neither been earned nor collected.
• B)The unearned revenue account represents revenue that has been earned and collected.
• C)The unearned revenue account represents revenue that has been earned, but not yet collected.
• D)The unearned revenue account represents revenue that has been collected, but not yet earned.

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Definitions:

Hot Dog

A cooked sausage, traditionally grilled or steamed and served in a sliced bun as a fast-food.

Price

The quantity of cash forecasted, demanded, or paid in return for an item.

Entire Income

The total amount of income received from all sources before any deductions, taxes or expenses are subtracted.

Units

A standard or basic quantity into which an item of supply is divided, issued, or used.