Retainer fee received from a client for future legal representation.

A) Prepaid expense
B) Accrued expense
C) Unearned revenue
D) Accrued revenue
E) None of these choices

Retainer Fee

A payment made to secure the services of a professional or consultant, typically paid upfront and used against services provided.

Unearned Revenue

Money received by a company for goods or services not yet delivered or performed, considered a liability until the service or product is delivered.

Legal Representation

Professional legal services provided by an attorney or law firm to advise or represent a client in legal matters.