A Liability Created When a Business Collects Cash from Customers

question 104

Multiple Choice

A liability created when a business collects cash from customers in advance of providing services or delivering goods is called a(n) ________.

• A)notes receivable
• B)unearned revenues
• C)equity
• D)revenues

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Definitions:

Comforted

Being comforted refers to receiving emotional support or reassurance in times of stress or sadness.

Attachment Researchers

Psychologists who study the formation, nature, and impact of emotional bonds formed between children and their caregivers.

Crying

A natural emotional response involving the shedding of tears in response to an emotional state, pain, or a physical irritation of the eye.

Unfamiliar

Describes something or someone not known or recognized by a person.