Examlex
Which of the following statements about modern systematics is not correct?
Unearned Revenue Account
Refers to money received by a company for goods or services yet to be delivered or performed, recognized as a liability on the balance sheet.
Debit Balance
An accounting term indicating that a particular account has more debits than credits, often referring to an account's overall debt or expenditure.
Credit Balance
In accounting, it refers to the balance on the right side of a ledger account, indicating the amount that a company owes or liabilities.
Revenue Account
An account that tracks the income generated from normal business operations, including the sale of goods and services.
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