Deferred revenues (unearned revenues)are items initially recorded as liabilities,but expected to become over time.

Name: Deferred revenues (unearned revenues)are items initially recorded as liabilities,but expected to become over time.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Deferred revenues are initially recorded as liabilities because they represent payments received before services are performed or goods are delivered. Over time, as the services are performed or goods are delivered, these amounts are recognized as revenues.

Deferred Revenues (Unearned Revenues)are Items Initially Recorded as Liabilities,but Expected