What Type of Account Is Unearned Revenue and What Is

question 52

Essay

What type of account is Unearned revenue and what is its normal balance?
A) Liability and credit
B) Asset and credit
C) Revenue and debit
D) Asset and debit

• A) Liability and credit
• B) Asset and credit
• C) Revenue and debit
• D) Asset and debit

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Definitions:

Convenience Sample

A non-random sample drawn from a part of the population that is close to hand or easy to access, often leading to biases.

Random Selection

The process of choosing a sample from a population in such a way that each member has an equal probability of being chosen.

Random Sample

A sample drawn from a population where every member had an equal opportunity to be selected.

Sample Mean

The average of all the values in a sample, used as an estimate of the population mean.