The Redemption Reward Liability account is reported as a
A) current asset.
B) contra sales account.
C) current liability.
D) non-current liability.

Question

Quizplus · Accepted Answer

The Redemption Reward Liability account is reported as a current liability because it represents an obligation that a company expects to settle within one year, typically through the provision of goods, services, or cash to customers in exchange for points or rewards earned.

The Redemption Reward Liability Account Is Reported as a