CFA Practice Question

There are 534 practice questions for this study session.

CFA Practice Question

How are unearned revenues classified on the balance sheet?
A. Current assets
B. Current liabilities
C. Other revenues
Explanation: Since unearned revenues involve activities related to the business's normal operating cycle, they are classified as current liabilities. Unearned revenues represent an obligation to perform a service or to return money to a customer.

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