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3 years ago

Unearned revenues refer to a(n)_____________.

Business

2 answers:

dusya [7]3 years ago

8 0

Answer: c. Liability that is settled in the future when a company delivers its products or services.

Explanation: Firstly, liability an obligation, debt or responsibility owed to someone. They are a company's legal financial debts or obligations that are incurred during the course of business operations. Unearned revenues, a type of current liability (short term liability), defines a firm's liability to deliver goods and/or services at a future date after being paid in advance. The unearned revenue amount will be deducted in the future with an offsetting entry once the product or service is delivered.

olga2289 [7]3 years ago

7 0

Answer:

The answer is C.

Explanation:

Unearned revenue is a liability because the amount for the transaction has already been collected while the goods or services have not been delivered. Example of unearned revenue is magazine subscription fee for a year and the money for the subscription has been collected at the beginning of the year.

Revenue is only recognized as the service is being rendered, maybe monthly or quarterly while the unearned revenue (liability) in the balance sheet decreases by the same amount

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2 years ago

explain how Adam Smith describes the market economy and role of consumers , producers , workers, savers ( investors) , and borro

astraxan [27]

Answer:

As described below.

Explanation:

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3 years ago

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3 years ago

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crimeas [40]

Answer:

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3 years ago

Selected accounts with some amounts omitted are as follows Work in Process Oct. 1 Balance 22,700 Oct. 31 Finished goods X 31 Dir

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Answer: $249,900‬

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2 years ago