Entry Level Accountant Mock Interview

Practice 25 Entry Level Accountant interview questions covering journal entries, reconciliations, and financial reporting fundamentals.

Question 14 of 25

What is deferred revenue?

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Brian Schuchart
Brian Schuchart

Brian Schuchart is a CPA and Senior Finance Business Partner. His professional experience includes senior management roles with NBC Sports, Virtual Health, and the Children's Hospital of Philadephia.

This question tests your ability to explain a basic concept of accounting. Under the accrual method of accounting, deferred revenue arises when cash is received before revenue is earned. This most commonly occurs when a customer prepays for a good or service.