Once the goods and services are rendered, the company transfers the proportionate amount of deferred revenue to actual revenue, reflecting earned income on the income statement. As an example ...

Unearned revenue is a liability because it represents a company’s obligation to deliver goods or services in the future.

Service revenue is reported on the income statement under operating revenues, reflecting earnings from core business ...

Common causes of deferred tax assets are items such as net operating losses, eligible business expenses, certain revenue ... a common example of a deferred tax liability is an installment sale.