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The type of account and normal balance of unearned consulting fees is revenue, credit liability, credit liability, debit expense, debit

Karen Wright

in Business

1 answer

1 answer

Caroline Campbell on June 7, 2018

The unearned consulting revenue liabilities. A liability, in accounting terms, is an obligation and is located in the balance sheets of companies or businesses. When a company carries out transactions with other companies or individuals, usually of the debt amounts to the creditors of the goods or services that the company acquires. In another sense, the responsibility is a source of the company's assets. They can also be considered as claims against the assets of the company. A liability may also include the amounts received by the company for services in the future. The liabilities include accounts payable, notes payable, salaries payable, interest payable, bonds payable, accrued expenses, etc, Its normal balance is a credit.

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