Why is unearned revenue a liability? Give an example.

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Horngrens Accounting Volume 1

ISBN: 9780135359709

11th Canadian Edition

Authors: Tracie Miller Nobles, Brenda Mattison, Ella Mae Matsumura, Carol Meissner, JoAnn Johnston, Peter Norwood

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Question Posted: May 08, 2024 12:00 PM

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Why is unearned revenue a liability? Give an example.

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Unearned revenue is considered a liability because it represents money that has been received by a c...View the full answer

Horngrens Accounting Volume 1

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