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Question by  barbie (115)

What is "unearned revenue"?

Does the government think people just GIVE you money?

 
+4

Answer by  Requin (290)

Unearned revenue is the term for when you are paid beforehand for a job that you are working on or an item you are going to deliver. For example, if you pay for a year long magazine subscription, the magazine classifies it as unearned revenue, because you haven't yet received every magazine that you've paid for.

 
+3

Answer by  vicki94 (477)

Unearned revenue is revenue that a company or individual receives money for a service or product that hasn't been fulfilled. It is a current liability on the balance sheet.

 
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