6) Unearned revenueis classified as
a. an asset account.
b. a revenue account.
c. a contra-revenue account.
d. a liabilityaccount.
7) Which of thefollowing would not result in unearnedrevenue?
a. Rent collected in advance fromtenants
b. Services performed onaccount
c. Sale of season tickets to footballgames
d. Sale of two-yearmagazine subscriptions
8) If an adjustingentry is not made for an accrued expense,
a. expenses will be overstated.
b. liabilities will beunderstated.
c. net income will be understated.
d. owner’s equity will beunderstated.
