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Use the information below to answer questions Subscription received during the year N30,000 Subscription owed...

Accounts - Principles of Accounts
JAMB 2001
Use the information below to answer questions

Subscription received during the year N30,000
Subscription owed last year N4,000
Subscription received for next year N6,000

The N6,000 subscription received is?
  • A. current asset
  • B. current liability
  • C. fixed asset
  • D. capital
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Correct Answer: Option B
Explanation
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WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Your School's Whatsapp Group - Join Us now
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Post UTME Past Questions Agent
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now