Discuss the accounting principle served by crediting amounts received (which will not be earned during the present fiscal period) to an Unearned Revenue account instead of to the Revenue account. Give an example of a business in which this might occur. Explain how failure to make an adjustment to the Unearned Revenue account and the Revenue account would affect the financial statements.

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The Answer of Discuss the accounting principle served by crediting amounts received (which will not be earned during the present fiscal period) to an Unearned Revenue account instead of to the Revenue account. Give an example of a business in which this might occur. Explain how failure to make an adjustment to the Unearned Revenue account and the Revenue account would affect the financial statements.

Discuss the Accounting Principle Served by Crediting Amounts Received (Which