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Taylor Korynta
on Dec 10, 2024

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Unearned revenue occurs when:

A) Customers pay after receiving a service
B) Customers pay in advance of receiving a service
C) Customers default and do not pay you what is owed
D) All the choices are correct

Unearned Revenue

An accounting term referring to money received for a product or service yet to be delivered or performed.

Customers Pay

This term refers to the action of clients or buyers giving money in exchange for goods or services.

Service

An intangible commodity that involves the provision of labor or expertise, rather than goods, for the benefit of a consumer.

  • Discern the assorted types of adjusting entries, encompassing those related to prepaid costs, accrued income, and accrued liabilities.
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KM
kaylah mitchumDec 15, 2024
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