3. A liability created for receiving cash for future services to be provided is termed a(n)Oservice revenue.Oestimated warranty payable.Ounearned revenue.Oaccrued liability.

The accrual basis accounting records the revenue and expenses as soon as they are incurred…

Answered: 3. A liability created for receiving…

3. A liability created for receiving cash for future services to be provided is termec Oservice revenue. Oestimated warranty payable. Ounearned revenue. Oaccrued liability.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 10MC: What accounts are used to record a contingent warranty liability that is probable and estimable but...

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3. A liability created for receiving cash for future services to be provided is termed a(n)
Oservice revenue.
Oestimated warranty payable.
Ounearned revenue.
Oaccrued liability.

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