Which of the Following Correctly Describes the Unearned Revenue Account

question 42

Multiple Choice

Which of the following correctly describes the unearned revenue account?

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

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Definitions:

Marginal Benefit

The extra benefit or satisfaction derived from the consumption of an additional unit of a good or service.

Crime Control

Strategies and measures implemented to reduce crime, protect public safety, and maintain social order.

Net Benefit

The total positive impact or gain of a decision, action, or project after subtracting any associated costs.

Social Program

Government initiatives designed to provide support and improve living standards for its citizens, including welfare, healthcare, and education services.