Unearned revenue,for services to be performed in six months,appears on the balance sheet as ________.
A) long-term investments
B) current liabilities
C) current assets
D) long-term assets

Question

Quizplus · Accepted Answer

Unearned revenue is a liability because it represents an obligation to provide services or goods to customers in the future. In this case, the services are to be performed in six months, so it falls under current liabilities in the balance sheet.

Unearned Revenue,for Services to Be Performed in Six Months,appears on the Balance