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Why is unearned revenue a liability and not asset

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Reference no: EM13971399

INTERMEDIATE FINANCIAL ACCOUNTING

Why is unearned revenue a liability and not asset?

What are the criteria for recording contingencies?

Why is it important to classify a portion of long-term debt on a yearly basis as a current liability?

How do you value bonds? What factors can affect that value?

What are the two methods for recording amortization of bond premiums and discounts? Which is best? Why?

Reference no: EM13971399

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