Unearned revenue is:

Q: Sometimes a temporary difference will produce future deductible amounts. Explain what is meant by…

A: The future deductible amount caused by temporary difference means that the taxable income can be…

Q: In what instances do you use unearned revenues and prepaid expenses?

A: Assets are the items owned by the firm or individual. It is calculated by summing up all the items…

Q: amount should be reported as deferred revenue

A: Deferred revenue, January 1 800,000 Gift certificates sold 5,000,000 Total deferred revenue…

Q: The accrued balance in a revenue account represents an amount which is:

A: Solution: The accrued balance in a revenue account represents an amount which is earned but not…

Q: When should revenue be recognised? Are there exceptions to the general rule?

A: Definition:   The revenue recognition principle: The revenue recognition principle refers to the…

Q: Choice Are revenue expenditures.

A: Extraordinary repairs are repairs that are of high cost and increase the useful life of the asset…

Q: Define Unearned revenue

A: Definition: Deferred revenues: Deferred revenue is a liability to render service or to deliver…

Q: In accrual basis ,revenues are recognized when received and expenses when incurred Select one: O…

A: Accounting records are recorded in two ways, one Cash Basis accounting and the other Accrual Basis…

Q: What is a deferred revenue? Provide an example.

A: Deferred revenue: Deferred revenues are revenues related to more than one period.  A deferred…

Q: What is meant by the term unearned revenue? Where should an unearned revenue account appear in the…

A: Revenue: It refers to the amount earned by a business from selling its goods or services to the…

Q: Which of the following revenue whose recognition is put off into the future even though payment has…

A: Revenue is the total proceeds from sale of goods or services in the business. This is an important…

Q: Describe the steps to apply Core Revenue Recognition Principle.

A: Revenue recognition principle: Revenue recognition principle refers to the revenue that should be…

Q: Define the term unearned revenue.

A: Deferred revenues: Deferred revenue is a liability to render service or to deliver products in…

Q: Is Unearned Revenue recorded in the Trial Balance?

A: Unearned revenue: Un-earned revenue is the term used to refer the revenues not yet earned but the…

Q: How do unearned revenues arise?

A:

Q: Define the term revenue recognition.

A: Accounting principle: These are the guidelines which are to be applied while preparing the…

Q: Difference between deferral of expenses/revenue and accrued expenses/ revenue?

A: The business adjust the profits of the business for the current year considering deferred and…

Q: nd revenue are given by

A:

Q: What is the difference between accrued liabilities an unearned Revenue accounts?

A: Accrued Liabilities :— An expenses of a Business or an Organization incurred  during a specific…

Q: What type of account is Unearned Revenue?a. Assetb. Liabilityc. Revenued. Expense

A: Unearned revenue: Unearned revenue is also called as prepaid revenue.

Q: Unearned revenue is:     An asset.     Income.     A liability.     An expense.

A: Unearned revenue, as the name suggests, is an advance received from the customer for which the…

Q: When should DJD recognize revenue

A: The revenues in these type of contracts are based on two types of contracts. 1. Revenues under…

Q: At what point revenue does revenue recognition occur

A: Revenue recognition: Revenue recognition refers to an accounting principle that states the specific…

Q: Define Core Revenue Recognition Principle.

A: The core principle of revenue recognition standard is that an entity should recognize revenue to…

Q: expenses. unearned revenues. accrued revenues.

A: The correct answer is  c. accrued revenues    ex. Fees for services that an attorney or doctor has…

Q: Which of the following is correct? Under the Assets test, the reportable segments are A, B, C O…

A: Introduction:- The following conditions satisfy for segment reporting as follows under:-  10% of the…

Q: Theoretically, unearned items (deferred revenues) should not be classified as a. deferred credits…

A: Deferred credits: It refers to the money received by a company but not immediately reported as…

Q: Reversing entries maybe used in unearned income when the original collection is recorded as a.…

A: Answer When unearned revenues are recorded as liabilities then an unearned revenue account is…

Q: Theseransactions which are related to revenue or expense recognition, identify whether they are are…

A: Accruals: Accruals are the revenues that are earned but not received, and expenses that are incurred…

Q: What are deferred revenues? Give three examples?

A: Definition of Deferred revenue:Deferred revenue is a liability to render service or to deliver…

Q: Define unearned revenues.

A: Definition: Income: This is the amount earned from the operations of a business. The operating…

Q: What are the revenue cycles ( in proper order)

A: Introduction:- Revenue cycles normally starts from receiving order from consumers or entering in…

Q: Explain when it is appropriate to recognize revenue over a period of time.

A: Revenue: Revenue refers to the income received from the business activity or sale of the output,…

Q: Differentiate using an example company’s primary revenue and secondary revenue, company’s primary…

A: Revenue refers to the funds generated by an entity through its direct or indirect business…

Q: Which one of the following is a revenue expenditure?

A: Revenue expenditure: It refers to the amount spent on normal maintenance and repairs of fixed assets…

Q: ASPE and IFRS.

A: Introduction: Revenue recognition: Revenue recognition is an accounting theory that defines the…

Q: What kind of account is Unearned Revenue?

A: Unearned Revenue is the revenue received in advance. It is the amount of cash received for which…

Q: what is Land classified as on the Income statement in the Revenue section?

A: Land is defined as the ground occupied by a business’ operations. This can include a company’s…

Q: What type of account is Unearned Revenue?

A: The question deals with what type of account is Unearned Revenue

Pricing

Pricing is used as a term in finance and economics, pricing is the process of fixing a value for a product or a service. Pricing establishes a value for a product or service that the customer has to pay. A business can choose from different strategies while deciding to set prices.