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Unearned revenues are generally: Revenues that have been earned and received in cash. Revenues that have been earned but not yet collected in cash. Liabilities

Unearned revenues are generally:
Revenues that have been earned and received in cash.
Revenues that have been earned but not yet collected in cash.
Liabilities created when a customer pays in advance for products or services before the revenue is earned.
Recorded as an asset in the accounting records.
Increases to owners' capital.
References
Multiple Choice Difficulty: 2 Medium Learning Objective: 02-C2 Describe an account and its use in recording transactions.
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