American Paging, Inc., is the seventh largest paging company in the United States. In a recent balance
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American Paging, Inc., is the seventh largest paging company in the United States. In a recent balance sheet, it reported a current liability of \(\$ 8,452,379\) that was labeled Unearned Revenues and Deposits. A note to the financial statements explained:
What basic principle of accounting guides American Paging's handling of its unearned revenues and deposits?
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