Unearned revenue
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What types of industries have unearned revenue? Why is unearned revenue considered a liability? (300 + words)
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The solution explains the concept of Unearned revenue in detail.
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The type of industries in which unearned revenue is fairly common are the types of industries in which customers usually give cash advances for services that will be performed later on. A common example of this type of industry is magazine subscriptions. People usually pay in advance for an yearly subscription of a particular magazine. This cash advance serves as unearned revenue for the company. The company then keeps delivering ...
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