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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
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.
Transcribed Image Text: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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