What type of account is unearned income?
A) Liability
B) Income
C) Expense
D) Asset

Name: What type of account is unearned income? A) Liability B) Income C) Expense D) Asset
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Question

Quizplus · Accepted Answer

Unearned income is money received for goods or services that have not yet been delivered or performed. It is considered a liability because the company owes the customer the product or service, and the income cannot be recognized as revenue until the obligation has been fulfilled.

What Type of Account Is Unearned Income