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Homework answers / question archive / Earned revenues represent future revenues that have been collected but not yet earned
Earned revenues represent future revenues that have been collected but not yet earned.
true or false
The above statement is false. The correct statement is that "The Unearned Revenue Account represents revenue that has been Collected, but not yet Earned". For Example: Advance rent payments, Annual subscriptions for a software license, and Prepaid insurance.
