Which of the following represents a liability that will be satisfied by providing goods or services?
A)Accrued expenses
B)Accounts receivable
C)Unearned revenue
D)Accumulated depreciation

Question

Quizplus · Accepted Answer

Unearned revenue is a liability that is satisfied by providing goods or services in the future. This is because unearned revenue represents money that has been received in advance for goods or services that have not yet been delivered. Once the goods or services are provided, the liability is satisfied and the revenue is recognized. Accrued expenses (A) represent expenses that have been incurred but have not yet been paid. Accounts receivable (B) represent money owed to a company for goods or services already provided. Accumulated depreciation (D) represents the total depreciation recorded on an asset over time.

Which of the Following Represents a Liability That Will Be