Unearned Revenue
Unearned revenue is money received before a product is delivered or a service is provided. It’s recorded as a liability on the balance sheet because the business still owes the service or goods. As the obligation is fulfilled, it is gradually recognised as earned revenue on the income statement.
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Unpaid Expenses
Unpaid expenses are costs incurred but not yet paid at the end of an accounting period. They are recorded as…
Unappropriated Retained Earnings
Unappropriated retained earnings are the portion of net income not designated for a specific purpose (like dividends or reserves). They…
Unit Cost
Unit cost is the total expense incurred to produce, store, and sell one unit of product or service. It includes…
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