Accounting · Final Accounts Adjustments

Unearned income (income received in advance) is treated in the balance sheet as a/an:

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1Capital
2Loss
3Liability✓
4Asset

Correct answer

Liability

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Unearned income (income received in advance) is treated in the balance sheet as a/an:

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Unearned income (income received in advance) is treated in the balance sheet as a/an:

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