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Accounts of ‘Not for Profit’ Concerns — Book Keeping & Accountancy STD 12 Commerce / Arts — Question

Maharashtra BoardEnglish MediumSTD 12 Commerce / ArtsBook Keeping & AccountancyAccounts of ‘Not for Profit’ Concerns1 Mark
MCQ
Subscription received in advance during the accounting year is ___________
  • A
    an Income
  • B
    an Expense
  • C
    an Asset
  • ✓
    a Liability
✓

Answer

Correct option: D.
a Liability
a Liability

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