Question

Which of the following is considered to be unearned revenue?
-Concert tickets sold last month for yesterday's performance
-Concert tickets sold yesterday on credit for yesterday's performance
-Concert tickets that were not sold for the current performance
-Concert tickets sold for next month's performance

Answer 1

Answer: Concert tickets sold for next month's performance

Explanation:

Unearned revenue is the payment received by a business for services yet to be rendered or product that has not yet been delivered to the customer. Therefore, the tickets sold for next month performance is a good example of an unearned revenue.