The type of account and normal balance of Unearned Consulting Fees is
A) revenue,credit
B) expense,debit
C) liability,credit
D) liability,debit

Name: The type of account and normal balance of Unearned Consulting Fees is A) revenue,credit B) expense,debit C) liability,credit D) liability,debit
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Question

Quizplus · Accepted Answer

Unearned Consulting Fees is a liability account because it represents money paid by clients in advance for consulting services that have not yet been provided. The normal balance for liability accounts is credit.

The Type of Account and Normal Balance of Unearned Consulting