Deferred Revenue Is a Liability Account

question 82

True/False

Deferred Revenue is a liability account.

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Definitions:

Risk Takers

Individuals or entities willing to engage in behaviors or decisions that involve potential losses or failure in pursuit of potential gains.

For-Profit Business

A type of organization that operates with the principal goal of making profits for its owners or shareholders.

Nonprofit

Reiteration of nonprofit organizations, indicating entities devoted to advancing a social cause without the aim of making a profit.

Satisfying Customers

The process of meeting or exceeding customer expectations through quality service or products, resulting in customer satisfaction.