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20.The balance in deferred (unearned) revenue accounts represents amounts that are Earned Collected I. Yes No I. Yes Yes II. No No IV. No Yes a. b. II C. II d. IV

20.The balance in deferred (unearned) revenue accounts represents amounts that are Earned Collected I. Yes No I. Yes Yes II. No No IV. No Yes a. b. II C. II d. IV

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Messages-INTERMEDIATE AC... https://uagm.blackboard.com/bbcsweb... https://uagm.blackboard.com/bbcswe... https://uagm.blackboard.com/bbcsw... Answer 20.The balance in deferred (unearned) revenue accounts represents amounts that are Earned Collected I. Yes No I. Yes Yes I. No No IV. No Yes a. I b.II C. II С. d. IV 21. An adjusting entry normally affects a. balance sheet accounts only b. income statement accounts only с. an income statement account and a balance sheet account d. balance sheet accounts or income statement accounts only 22.Accrued revenues a. have been earned and collected, but not yet recorded b. have been collected, but not yet earned or recorded have been earned and recorded, but not yet collected d. have béen earned, but not yet collected or recorded C.
Transcribed Image Text:Messages-INTERMEDIATE AC... https://uagm.blackboard.com/bbcsweb... https://uagm.blackboard.com/bbcswe... https://uagm.blackboard.com/bbcsw... Answer 20.The balance in deferred (unearned) revenue accounts represents amounts that are Earned Collected I. Yes No I. Yes Yes I. No No IV. No Yes a. I b.II C. II С. d. IV 21. An adjusting entry normally affects a. balance sheet accounts only b. income statement accounts only с. an income statement account and a balance sheet account d. balance sheet accounts or income statement accounts only 22.Accrued revenues a. have been earned and collected, but not yet recorded b. have been collected, but not yet earned or recorded have been earned and recorded, but not yet collected d. have béen earned, but not yet collected or recorded C.
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