Unearned revenue is considered a/an:
A)Asset
B)Liability
C)Revenue
D)Owner's equity
E)Profit

Name: Unearned revenue is considered a/an: A)Asset B)Liability C)Revenue D)Owner's equity E)Profit
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Unearned revenue is a liability.
Key Takeaway: Unearned revenue is a transaction in which payment was received, but services not yet rendered. It is considered a liability, as the business has an obligation to perform the service in the future.

Unearned Revenue Is Considered A/an