Answered

Rent collected in advance is an example of which of the following?

A. Deferred expense (prepaid expense)
B. Accrued expense
C. Deferred revenue (unearned revenue)
D. Accrued revenue



Answer :

Final answer:

Rent collected in advance is an example of deferred revenue.


Explanation:

Rent collected in advance is an example of deferred revenue (unearned revenue). This is because the payment received for rent in advance represents a future obligation to provide the service of renting the property. Upon delivering the service, the income is recognized, and the deferred revenue is then reduced.


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