Unearned revenue is classified as a(n)
A) asset account.
B) revenue account.
C) equity account.
D) liability.
Correct Answer:
Verified
Q45: Adjusting entries are
A)not necessary if the accounting
Q47: Adjusting entries can be classified as
A)postponements and
Q50: The preparation of adjusting entries
A)is straight-forward because
Q73: Mave Corp.sells $5,000 of goods on account
Q74: Using accrual accounting, expenses are recorded and
Q79: An asset-expense relationship exists with
A)liability accounts.
B)revenue accounts.
C)prepaid
Q79: Under the accrual basis of accounting
A)cash must
Q80: Which of the following reflects the balances
Q82: As prepaid expenses expire with the passage
Q83: A liability-revenue relationship exists with
A)prepaid expense adjusting
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