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.
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.
举一反三
- 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.
- The CORRECT data flow from one financial statement to the next is: A: statement of retained earnings, income statement, balance sheet, statement of cash flows. B: balance sheet, statement of retained earnings, income statement, statement of cash flows. C: statement of retained earnings, income statement, statement of cash flows, balance sheet. D: income statement, statement of retained earnings, balance sheet, statement of cash flows.
- 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 statement summarizes financial performance resulting from income (revenue and gains) less expenses (including losses). A: Balance sheet B: Income statement C: Cash flow statement