menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Accounting Study Set 1
  4. Exam
    Exam 3: The Adjusting Process
  5. Question
    Deferred Revenue Is a Liability Created When a Business Collects
Solved

Deferred Revenue Is a Liability Created When a Business Collects

Question 107

Question 107

True/False

Deferred Revenue is a liability created when a business collects cash from customers in advance of completing a service or delivering a product.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q102: Adjusting entries record revenues in the period

Q103: The key differences between the cash basis

Q104: Stallings Company purchased manufacturing equipment for $8,400.It

Q105: The unadjusted trial balance of James

Q106: The accountant of Newton Legal Services failed

Q108: Global Enterprises Company signed a one-year $48,000

Q109: Accrued revenue is revenue that _.<br>A) has

Q110: The employees of Leichester Services Company worked

Q111: A business purchased equipment for $145,000 on

Q112: On June 1,Edison Company borrowed $27,000 on

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines