Subscription Received in Advance represents money received for services not yet rendered. Since the organisation owes these services to members, it is treated as a current liability and shown on the liabilities side of the Balance Sheet.
Subscription Received in Advance is a :
CUET UG 2023 — Accountancy Financial Statements
2023mcqeasy
Subscription Received in Advance is a :
Official previous-year question
Held on 11 Jun 2023 · Verified 13 Jul 2026.
Options
- A
Liability
- B
Asset
- C
Income
- D
Expenditure
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