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Shivam AgrawalShivam Agrawal asked 1 year ago

What is Unearned Revenue?
What is difference between unearned revenue and Advance from Customer?

1 Answers
RaviRavi Staff answered 12 months ago

Unearned Revenue generally means advance received from customer so both the terms are similar but unearned revenue is little broader it may include situation where we got sales revenue but some part of the revenue is transferred to unearned revenue account because we are going to give service in future.
No, need to differentiate further it won’t be of much use for studies or exams.
Team AG. 

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