[New post] [Answer] Which of the following is a liability account?a.Service revenue b.Building c.Accounts receivable d.Unearned revenue

answertrivia posted: " Answer: D. Unearned Revenue Which of the following is a liability account?a.Service revenue b.Building c.Accounts receivable d.Unearned revenue Debits and credits occur simultaneously in every financial transaction in double-entr" Respond to this post by replying above this line New post on AnswerTrivia.com [Answer] Which of the following is a liability account?a.Service revenue b.Building c.Accounts receivable d.Unearned revenue by answertrivia Answer: D. Unearned Revenue Which of the following is a liability account?a.Service revenue b.Building c.Accounts receivable d.Unearned revenue Debits and credits occur simultaneously in every financial transaction in double-entry bookkeeping. In the accounting equation Assets = Liabilities + Equity so if an asset account increases (a debit (left)) then either another asset account must decrease (a credit (right)) or a liability or equity account must increase (a credit (right)).In the extended equation revenues increase equity ... Liability (financial accounting) - Wikipedia Liability (financial accounting) - Wikipedia Accounts receivable - Wikipedia Financial accounting - Wikipedia Deferred income (also known as deferred revenue unearned revenue or unearned income) is in accrual accounting money received for goods or services which has not yet been earned.According to the revenue recognition principle it is recorded as a liability until delivery is made at which time it is converted into revenue .. For example a company receives an annual software license fee paid ... Accounting for leases in the United States is regulate... This free site is ad-supported. Learn more ​ answertrivia | 5th Apr 2021 at 2:15 pm | Categories: Uncategorized | URL: https://wp.me/pcLptW-Ioh Comment    See all comments Unsubscribe to no longer receive posts from AnswerTrivia.com. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://answertrivia.wordpress.com/2021/04/05/answer-which-of-the-following-is-a-liability-accounta-service-revenue-b-building-c-accounts-receivable-d-unearned-revenue-16/ Thanks for flying with WordPress.com