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:

Nondiscrimination Rules

Regulations ensuring that benefits, services, or opportunities are provided fairly and without bias to all eligible individuals within certain contexts, such as employment or insurance.

Roth IRA

A type of individual retirement account allowing for tax-free withdrawals of contributions and earnings, provided certain conditions are met.

Tax-free

Earnings on which no tax is due to the government. This can include certain types of interest, inheritance, or gifts.

SIMPLE Retirement Plan

A tax-deferred retirement plan offered by small employers, including self-employed individuals, allowing employees and employers to contribute to an Individual Retirement Account (IRA).