Time Warner Is a Publishing and Communications Company,specializing in Magazines,cable

question 167

Multiple Choice

Time Warner is a publishing and communications company,specializing in magazines,cable television operations,television program development,and other telecommunication services.Its financial statements show $37,666 in an account called Deferred Revenue,which represents amounts that customers have paid in advance of receiving magazines,cable television,and internet services.What type of account is this and on what statement is it reported?

• A)Asset;Balance Sheet
• B)Liability;Balance Sheet
• C)Revenue;Balance Sheet
• D)Revenue;Income Statement

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Definitions:

Instance Variable

A variable that, when defined within a class, ensures every object instantiated from that class possesses its own distinct copy.

Method Definition

A method definition specifies the code to be executed when the method is called, including the method's name, return type, and parameters.

New Operator

A keyword used in programming to create instances of classes by allocating memory for the objects.

Purpose

The reason for which something is done or created, or for which something exists.