Amounts owed to customers for advance payments until the related goods or services have been provided are called
A) Accounts Payable.
B) Deferred Revenue.
C) Accrued Liabilities.
D) Deferred Income Taxes.

Question

Quizplus · Accepted Answer

Deferred Revenue refers to the money received by a company for goods or services yet to be delivered or performed. It is a liability because it represents an obligation to the customer.

Amounts Owed to Customers for Advance Payments Until the Related