Cash received prior to delivering a product or performing a service is called a(n)

Question

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Unearned revenue is the cash received in advance of delivering a product or performing a service. It is classified as a liability until the product or service is delivered, at which point it is recognized as revenue. The other options are not accurate definitions of cash received prior to delivering a product or performing a service.

Cash Received Prior to Delivering a Product or Performing a Service