The Type of Account and Normal Balance of Unearned Fees

question 173

Multiple Choice

The type of account and normal balance of Unearned Fees is

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

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Definitions:

Oppression

The exercise of authority or power in a burdensome, cruel, or unjust manner.

Novation

is the process of substituting a new obligation or contract for an old one, with consent from all parties involved.

Right Of Appraisal

See dissenter’s rights.

Reverse Share Split

A corporate action in which a company reduces the total number of its outstanding shares, typically to increase the per-share price.