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Amounts received in advance from customers for future products or services: Are revenues Increase income Are liabilities Are not allowed under GAAP Require an outlay of cash in the future

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Amounts received in advance from customers for future products or services:

1. 1. Are revenues
   2. Increase income
   3. Are liabilities
   4. Are not allowed under GAAP
   5. Require an outlay of cash in the future