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Sport fans will often purchase tickets to popular events more than a year in advance of the event. At the time the payment is received,
Sport fans will often purchase tickets to popular events more than a year in advance of the event. At the time the payment is received, how should it be classified in the financial statements? Select answer from the options below
as long-term revenue on the income statement
it should be disclosed in notes to the financial statements
as a current liability on the statement of financial position
as a long-term liability on the statement of financial position
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