these multiple choice Questions from ACCOUNTING PRINCIPLES 1 Course.I need the final. 12Unearned revenues areO a. Earned and recorded as liabilities before they are received.O b. Earned and already received and recorded.O . Received and recorded as liabilities before they are earned.O d. Earned but not yet received or recorded.13Accounts often need to be adjusted becauseO a. Many transactions affect more than one time periodO b. There are never enough accounts to record all the transactionsO .There are always errors made in recording transactions14Prepaid expenses area. Paid and recorded in an asset account after they are used or consumed.b. Incurred but not yet paid or recorded.O . Paid and recorded in an asset account before they are used or consumedO d. Incurred and already paid or recorded.

12. Unearned revenue is the revenue that is received by the company but not yet earned by the…

Unearned revenues are a. Earned and recorded as liabilities before they are received. O b. Earned and already received and recorded. O . Received and recorded as liabilities before they are earned. O d. Earned but not yet received or recorded.

Unearned revenues are a. Earned and recorded as liabilities before they are received. O b. Earned and already received and recorded. O . Received and recorded as liabilities before they are earned. O d. Earned but not yet received or recorded.

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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these multiple choice Questions from ACCOUNTING PRINCIPLES 1 Course.I need the final.

12
Unearned revenues are
O a. Earned and recorded as liabilities before they are received.
O b. Earned and already received and recorded.
O . Received and recorded as liabilities before they are earned.
O d. Earned but not yet received or recorded.
13
Accounts often need to be adjusted because
O a. Many transactions affect more than one time period
O b. There are never enough accounts to record all the transactions
O .There are always errors made in recording transactions
14
Prepaid expenses are
a. Paid and recorded in an asset account after they are used or consumed.
b. Incurred but not yet paid or recorded.
O . Paid and recorded in an asset account before they are used or consumed
O d. Incurred and already paid or recorded.

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