Unearned subscription revenues often consist of liabilities that will come due within one year and beyond one year. This is an example of a _______ known liability.

Unearned subscription revenues are frequently made up of liabilities that will be due within a year or later. This is an example of a known obligation for the current period.

What is Unearned subscription revenue?

Unearned revenue refers to business income that has been received but has not yet been earned. When insurance premiums, rent, membership fees, or maintenance contract fees are received prior to the customer obtaining the agreed-upon benefit, they are examples of unearned revenue. Subscription fees are frequently unearned income. It is represented as a liability on a company's balance sheet because it indicates a debt owed to the consumer.

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