Explain what unearned revenues are by choosing the correct statement below. Multiple choice question. Unearned revenues refer to income reported on the income statement. Unearned revenues refer to cash received in advance of providing a service or product. Unearned revenues refer to amounts owed to the company that have not yet been billed. Unearned revenues refer to customer payments which have not yet been received.

Unearned revenues refer to cash received in advance of providing a service or product.

Explanation:

The unearned revenue is the amount i.e. collected in advance prior a service or the product is to be delivered. The same is to be shown as the liability on the balance sheet

So it is the cash received in advance before providing the service or product

Therefore the above statement represent an answer

answer; /// i believe that the correct answer is (b) money set aside for emergency repairs;