16) A liability created when a business collects cash from customers in advance of providing services or delivering goods is called a(n) . A) notes receivable B) unearned revenue C) accrued liability D) service revenue Answer: B Diff: 1 LO: 2-1 AICPA Functional: Measurement PE Question Type: Concept H2 : Liabilities 17) Which of the following is a liability account? A) Service Revenue B) Building C) Accounts Receivable D) Unearned Revenue Answer: D Diff: 1 LO: 2-1 AACSB: Application of knowledge AICPA Functional: Measurement PE Question Type: Application H2 : Liabilities
16) A liability created when a business collects cash from customers in advance of providing services or delivering goods is called a(n) . A) notes receivable B) unearned revenue C) accrued liability D) service revenue Answer: B Diff: 1 LO: 2-1 AICPA Functional: Measurement PE Question Type: Concept H2 : Liabilities 17) Which of the following is a liability account? A) Service Revenue B) Building C) Accounts Receivable D) Unearned Revenue Answer: D Diff: 1 LO: 2-1 AACSB: Application of knowledge AICPA Functional: Measurement PE Question Type: Application H2 : Liabilities
Horngrens-Accounting-11th-Edition-Miller-Nobles-Test-Bank.docx