Answered: What type of account is "Unearned…

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Accounting

What type of account is "Unearned Revenue"? A) AssetB) LiabilityC) EquityD) Revenue explain.

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter1: Accounting And The Financial Statements

Section: Chapter Questions

Problem 7DQ: Define the terms revenue and expense. How are these terms related?

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Question

What type of account is "Unearned Revenue"?

A) Asset
B) Liability
C) Equity
D) Revenue

explain.

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