All of the Following Are Regarding Unearned Revenues Except

question 214

Multiple Choice

All of the following are regarding unearned revenues except:

• A) They are payments received in advance of services performed.
• B) The adjusting entry for unearned revenues increases assets and increases revenues.
• C) The adjusting entry for unearned revenues increases revenues and decreases liabilities.
• D) They are liabilities.
• E) As they are earned, they become revenues.

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Definitions:

Preoperative Phase

The period before surgery during which preparations and assessments are made to ready the patient for the operation.

Operating Suite

A specialized set of rooms within a hospital designed and equipped for performing surgical operations.

Post-Anesthesia Care

The immediate care and monitoring of patients recovering from anesthesia to ensure safety and manage pain or complications.

Operative Table

A table specifically designed for patients to lie on during surgical procedures, usually adjustable for different positions.