Why Would the Unearned Revenue Account Need to Be Adjusted

question 94

Multiple Choice

Why would the Unearned revenue account need to be adjusted at the end of the period?

• A)Revenue that had been deferred is now earned.
• B)Revenue has been recorded,and cash has not yet been received.
• C)Liabilities are unrecorded.
• D)Assets would otherwise be understated.

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Definitions:

Money Supply

The total amount of money available in an economy at a specific time, including cash, coins, and balances held in checking and savings accounts.

Monetary Policy

A strategy used by a country's central bank to control the money supply and interest rates in order to influence economic activity.

Aggregate Demand

The total demand for all goods and services in an economy at a given time and price level.

Studies

The act of devoting time and attention to acquiring knowledge on an academic subject, particularly through books.