King George's Medical University Senior Accountant Interview Questions and Answers

Deferred revenue is an advance payment received by a company for goods or services that have not yet been delivered or rendered.

• Deferred revenue is a liability on the company's balance sheet.

• It is recognized as revenue only when the goods or services are delivered or rendered.

• Examples include subscription fees paid in advance, gift cards, and deposits received for future services.

• Deferred revenue is also known as unear