Which of the following is not true of unearned revenue?______.A.Unearned revenue represent
Which of the following is not true of unearned revenue?______.
A.Unearned revenue represents money that a company has received in advance of providing the goods or services to its customer.
B.It is considered to be owner's equity before the goods or services are provided.
C.After the goods or services are provided, the revenue is recognized and the liabilities are eliminated.
D.Magazine subscriptions are an example of unearned revenue as the cash is received in advance for the subscriptions.