Types of income[1]
| Type of Income |
Received? |
Earned? |
Account Classification |
| Collected |
Yes |
Yes* |
Revenue |
| Unearned |
Yes |
No |
Liability |
| Uncollected (due) |
No |
Yes |
Asset |
| Accrued |
No |
Yes |
Asset |
| Deferred** |
No |
No |
Asset |
| Non admitted (statutory accounting practices only) |
No |
yes |
Non admitted asset |
*Collected income may have both an earned and an unearned portion
**Deferred Premiums is an asset account established to offset the overstated reserves liability |
Jawaban: c. Collected income
[1] Mulligan, E. and Stone, G. (1997). Accounting and financial reporting in life and health insurance companies. Atlanta, Ga.: Life Management Institute, LOMA.
