Unearned
revenue is a liability and should be reported on the income
statement.(
)
revenue is a liability and should be reported on the income
statement.(
)
举一反三
- Unearned revenue is reported in the financial statements as: A: A revenue on the balance sheet. B: A liability on the balance sheet. C: An unearned revenue on the income statement. D: An asset on the balance sheet. E: An operating activity on the statement of cash flows.
- Unearned revenue is reported in the financial statements as: A: A liability on the balance sheet. B: A revenue on the balance sheet. C: An unearned revenue on the income statement. D: An asset on the balance sheet.
- The<br/>balance of an unearned revenue account(): A: Appears<br/>in the balance sheet as a component of owners' equity. B: Appears<br/>in the income statement along with other revenue accounts. C: Appears<br/>in a separate section of the income statement for revenue not yet<br/>earned. D: Appears<br/>in the liability section of the balance sheet.
- Unearned revenue is reported as: A: A revenue on the statement of financial position. B: A liability on the statement of financial position. C: An asset on the statement of financial position. D: An operating activity on the statement of cash flows.
- Which<br/>of the following is NOT a true statement about the statement of cash<br/>flows?() A: It<br/>shows where cash came from and how it was spent. B: It<br/>reports why cash increased or decreased. C: It<br/>covers a specific span of time the same as the income statement. D: It<br/>shows how the profits or losses of the company were generated.