Subscription in arrears are

Accounts - Principles of Accounts

JAMB 1995

A. Credited to the income and expenditure account and shown as a liability in the balance sheet
B. debited to the income and expenditure account and shown as an asset in the balance sheet
C. credited to the income and expenditure account and shown as a liability in the balance sheet
D. debited to the income and expenditure account and shown as a liability in the balance sheet

NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789

WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709

Correct Answer: Option B

Explanation

No official explanation is available for this question at this time. Please check contributions posted by others below. If you can provide an explanation to help other student learn, please click here

Previous Next

Go back to Acc classroom

Report an Error Ask A Question Download App