Unearned revenue is an example of a definitely determinable liability.

Name: Unearned revenue is an example of a definitely determinable liability.
Brand: Quizplus
Rating: 4.9 (36 reviews)

Question

Quizplus · Accepted Answer

Unearned revenue is a liability that arises when a company receives payment from a customer for goods or services that have not been delivered or performed yet. The amount of unearned revenue is definitely determinable as it is a known amount that is already received and waiting to be earned.

Unearned Revenue Is an Example of a Definitely Determinable Liability