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Do unearned revenue arise when customers pay before the services are delievered and the income statement is not initially affected because cash increases and unearned revenue (liability) increases?



This question is part of Accounting - Chapters 1-4
Asked by ReynaldoJPA, Last updated: Dec 18, 2019

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2 Answers

John Adney

John Adney

Answered Oct 19, 2017

This question needs to be reworded income statements do not have liabilities, ony balnce sheets or finanical positions... the question with that wording is false but inheritly the actual question is true.

 

ReynaldoJPA

ReynaldoJPA

Answered Oct 20, 2017

True
 

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