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Is unearned revenue an asset or a liability?

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Question added by Ahmed Saeed , Supply Chain and Purchasing Manager , Tuff Gear Ltd.
Date Posted: 2014/01/09
Rehan Qureshi
by Rehan Qureshi , Financial Consultant , Self Employeed

No, unearned revenue is not an asset. It is actually considered to be a liability. This is because it is money used for future goods. Not something you current have and may not have.

mukkur srinivasan varadhan
by mukkur srinivasan varadhan , Chartered Accountant , Chartered Accountant in practice

Unearned revenue  for which work or services were satisfactorily completed is an asset , though brought into books or not is an asset only .Maybe Work in progress or work in process.

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