The Unearned Fees account is classified as a(n)
A) liability.
B) revenue.
C) asset.
D) dividend.

Name: The Unearned Fees account is classified as a(n) A) liability. B) revenue. C) asset. D) dividend.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Unearned Fees represent money that has been collected from customers in advance but have not yet been earned by the company. It is a liability as the company owes a service or product to the customer and needs to recognize it as revenue when earned.

The Unearned Fees Account Is Classified as A(n)