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4 February, 23:02

Unearned Fees appear on the ___

a. balance sheet in the current assets section

b. income statement as revenue

c. balance sheet in the stockholders' equity section

d. balance sheet as a current liability

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Answers (1)
  1. 5 February, 00:05
    0
    d

    Explanation:

    Unearned fees is recorded on a company's statement of financial position (balance sheet) as a liability. Unearned Fees is presented as a liability because the revenue has still not been earned and relates services owed to a customer ...

    See IFRS 15 for further clarity ...
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