Unearned revenues are:
A) Amounts received in advance from customers for future delivery of products or services.
B) The same as accrued revenues.
C) Reduce assets.
D) Not recorded as liabilities.
E) All of these answers are correct.

Question

Quizplus · Accepted Answer

Unearned revenues are amounts received in advance from customers for future delivery of products or services, and they are recorded as liabilities until the service or product is delivered.

Unearned Revenues Are