Which of the Following Correctly Describes the Unearned Revenue Account

question 61

Multiple Choice

Which of the following correctly describes the unearned revenue account?

• A)The unearned revenue account represents revenue that has been earned,but not yet collected.
• B)The unearned revenue account represents revenue that has been collected,but not yet earned.
• C)The unearned revenue account represents revenue that has neither been earned nor collected.
• D)The unearned revenue account represents revenue that has been earned and collected.

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Definitions:

Informed Consent

A process by which a fully informed individual voluntarily agrees to participate in a particular activity, after understanding all relevant risks and benefits.

IRB Approval

The authorization granted by an Institutional Review Board (IRB) which confirms a study's research plan is ethical and the rights and welfare of participants are protected.

Incomplete Disclosure

Failure to fully inform research participants about the nature or aims of the study, often to prevent bias or influence on participant behavior.

Minimal Risks

Refers to the probability and magnitude of harm or discomfort anticipated in research that are not greater than those ordinarily encountered in daily life.