In accordance with GASB standards, a deferred inflow of resources is reported on the financial statements the same as an unearned revenue.

Question

Quizplus · Accepted Answer

Deferred inflows of resources and unearned revenue are reported differently; deferred inflows are recognized in the future as revenue, while unearned revenue is a liability until the service is provided or the revenue is earned.

In Accordance with GASB Standards, a Deferred Inflow of Resources