Recording season ticket monies received in advance as unearned revenue would be an example of a(n):
A)deferred expense.
B)deferred revenue.
C)accrued expense.
D)accrued revenue.

Question

Quizplus · Accepted Answer

Recording season ticket monies received in advance as unearned revenue is an example of deferred revenue. It is because the revenue is received in advance, and the company has not yet earned it as it has not fulfilled the obligation of providing the service (i.e., the games) to the customers.

Recording Season Ticket Monies Received in Advance as Unearned Revenue