Types of income[1]
| Type of Income |
Received? |
Earned? |
Account Classifiation |
| Collected |
Yes |
Yes* |
Revenue |
| Unearned |
Yes |
No |
Liability |
| Uncollected (due) |
No |
Yes |
Asset |
| Accrued |
No |
Yes |
Asset |
| Deffered |
No |
No |
Asset |
| Nonadmitted (statutory accounting practices only) |
No |
Yes |
Nonadmitted asset |
| * Collected income may have both an earned and an unearned portion.
** Deffered Premiuim is an asset account estabilished to offset the overstated reserve liability |
Jawaban: a. Unearned income dikategorikan sebagai liabilitas
[1] Mulligan, E. and Stone, G. (1997). Accounting and financial reporting in life and health insurance companies. Atlanta, Ga.: Life Management Institute, LOMA.
