• 2022-06-01
    中国大学MOOC: Since the revenue recognition principle requires that revenues be recorded when earned, there are no unearned revenues in accrual accounting.
  • 内容

    • 0

      Translate the following sentence into Chinese. "These two financial statements reflect the accrual basis accounting used by firms to match revenues with the expenses associated with generating those revenues."

    • 1

      In the case of unearned revenue, the cash is received first, and the revenue is earned later.

    • 2

      中国大学MOOC: The cash basis of accounting commonly results in financial statements that are less comparable from period to period than the accrual basis of accounting.

    • 3

      Which of the following transactions would be recorded under accrual accounting but NOT under cash-basis accounting?

    • 4

      In the case of unearned revenue, the adjusting entry at the end of the period includes a credit to Service Revenue. Assume the unearned revenue is initially recorded as a liability.