In accounting, unearned revenue are the revenues from products and/or services that are yet to be delivered to its customers or clients. Since the business haven't delivered the products or services yet, it is classified as liability as you still owe your customers/clients something.
To know more about liabilities, just continue on reading below.
Liabilities
In accounting, liabilities are the resources that a company owes to another business or people.
Two types of liabilities:Current liabilities - accountabilities that must be paid or dealt within a year or operating cycle of a business.Non-current liabilities - accountabilities that must be paid but not within a year or operating cycle of a business.Examples of current liabilities:Accounts PayableNotes PayableUnearned RevenuesExamples of non-current liabilities:Mortgage PayableBonds Payable
Prepaid expense is categorized as an asset because what you bought is not yet used by the company and can only be used on the following months or years. A good example of this is the prepaid rent.
Our last example showed the importance of marketing a diverse set of products and using new products to gain strategic advantage. Defining and managing this collection of products is called product portfolio management.
Think of an artist’s portfolio. The artist will use her portfolio to display a range of work. She will try to select works that showcase her strengths in different areas so that someone reviewing her portfolio can see the range of different things she can do well.
Similarly, a product portfolio requires diversity in order to be effective. In this module we will talk about what the product portfolio is and how a marketer can use the power of a product portfolio to achieve marketing objectives.
The specific things you’ll learn in this section include:
Define the product portfolio and explain its use in marketing
Identify marketing strategies and tactics used to achieve portfolio objectives
Explain why new products are crucial to an organization’s success
In accounting, unearned revenue are the revenues from products and/or services that are yet to be delivered to its customers or clients. Since the business haven't delivered the products or services yet, it is classified as liability as you still owe your customers/clients something.
To know more about liabilities, just continue on reading below.
LiabilitiesIn accounting, liabilities are the resources that a company owes to another business or people.
Two types of liabilities:Current liabilities - accountabilities that must be paid or dealt within a year or operating cycle of a business.Non-current liabilities - accountabilities that must be paid but not within a year or operating cycle of a business.Examples of current liabilities:Accounts PayableNotes PayableUnearned RevenuesExamples of non-current liabilities:Mortgage PayableBonds Payable#answerForTrees
Explanation:
Assets are the resources that a company owns.
Prepaid expense is categorized as an asset because what you bought is not yet used by the company and can only be used on the following months or years. A good example of this is the prepaid rent.
#answerForTrees
Our last example showed the importance of marketing a diverse set of products and using new products to gain strategic advantage. Defining and managing this collection of products is called product portfolio management.
Think of an artist’s portfolio. The artist will use her portfolio to display a range of work. She will try to select works that showcase her strengths in different areas so that someone reviewing her portfolio can see the range of different things she can do well.
Similarly, a product portfolio requires diversity in order to be effective. In this module we will talk about what the product portfolio is and how a marketer can use the power of a product portfolio to achieve marketing objectives.
The specific things you’ll learn in this section include:
Define the product portfolio and explain its use in marketing
Identify marketing strategies and tactics used to achieve portfolio objectives
Explain why new products are crucial to an organization’s success
Explanation:
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