Which of the following statements is $($are$)$ correct regarding unearned revenues?

Multiple select question.

Unearned revenues refer to assets which have yet to be billed to customers for services performed by the business.

Unearned revenues are amounts owed by customers for services performed.

Unearned revenues refer to a liability that is settled when a company delivers a product or performs a service.

Unearned revenue is a liability account which is set up when a customer pays in advance for a product or service.