Question
True or False: Meghan promised to provide a consulting service to Delaneys company for $1,000 in August. Delaney paid $1,000 upfront in June. In June,
True or False: Meghan promised to provide a consulting service to Delaneys company for $1,000 in August. Delaney paid $1,000 upfront in June. In June, Meghan has to record $1,000 of unearned revenue, and Delaney will record $1,000 of prepaid expense. Why is it true? Because arent you as a business not allowed to record unearned revenue until its earned?
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Funding And Financing Transport Infrastructure
Authors: Athena Roumboutsos, Hans Voordijk, Aristeidis Pantelias
1st Edition
0367735792, 9780367735791
