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    Question

    What is deferred

    revenue?
    A Revenue received in advance for which performance obligation not satisfied --- presented as contract liability Correct Answer Incorrect Answer
    B Revenue earned but not billed Correct Answer Incorrect Answer
    C Revenue recognised on accrual basis Correct Answer Incorrect Answer
    D Non-monetary income only Correct Answer Incorrect Answer

    Solution

    Deferred revenue is a liability that represents advance payments from customers for goods or services that are yet to be delivered or performed.

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