The Account Type and Normal Balance of Unearned Revenue Is

question 156

Multiple Choice

The account type and normal balance of Unearned Revenue is

• A) revenue, credit
• B) expense, debit
• C) liability, credit
• D) asset, debit

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Definitions:

Deception

The act of misleading or tricking someone in order to gain an advantage or cause harm.

False Representation

A deceitful statement or misrepresentation made knowingly with the intention of misleading another party, often relevant in fraud cases.

Material Omission

The failure to include information that is important and relevant to a decision or understanding of a matter, which could mislead or deceive.

Consumer Product Safety Commission

A U.S. government agency responsible for protecting the public from unreasonable risks of injury or death associated with consumer products.