What type of account is Unearned revenue and what is its normal balance?
A)Liability and credit
B)Asset and debit
C)Asset and credit
D)Revenue and debit

Name: What type of account is Unearned revenue and what is its normal balance? A)Liability and credit B)Asset and debit C)Asset and credit D)Revenue and debit
Brand: Quizplus
Rating: 4.8 (32 reviews)

Question

Quizplus · Accepted Answer

Unearned revenue is a liability account because it represents money received before services are performed or goods are delivered. Its normal balance is a credit.

What Type of Account Is Unearned Revenue and What Is