Unearned Revenue Is Recorded When ________

question 77

Multiple Choice

Unearned revenue is recorded when ________.

• A) revenue will be both collected and earned in the future
• B) the business has collected cash, but not yet earned the revenue
• C) revenue has been collected and earned during the same accounting period
• D) the business has earned, but not collected, cash for the revenue

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Definitions:

Federal Employees Political Activities Act

A U.S. law that restricts political activities of federal employees to ensure a nonpartisan civil service.

Spoils System

A practice where a political party, after winning an election, gives government jobs to its supporters, friends, and relatives as a reward for working toward victory, rather than hiring based on merit.

Hatch Act

A federal law in the United States that prohibits employees in the executive branch of the federal government, except the president, vice-president, and certain designated high-level officials, from engaging in some forms of political activity.

Government Programs

Initiatives and services provided by the governmental bodies designed to meet public needs, including welfare, healthcare, and infrastructure projects.