Subscription in advance is treated in the balance sheet as a

Accounts - Principles of Accounts

JAMB 2017

A. current asset
B. current liability
C. fixed asset
D. long term liability

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Correct Answer: Option B

Explanation

current assets are assets of the company that can be easily converted to cash when needed

current liability: this is the liability owned to outsiders but still enjoying its benefit within a year e.g creditors, wages in arrears

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Subscription in advance is treated in the balance sheet as a

Correct Answer: Option B

Explanation

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