Income received in advance is an ___________ – McqOptions

MCQOPTIONS

Saved Bookmarks

→ Finance & Accounting
→ Fundamentals of Accounting
→ Income received in advance is an ___________

1.	Income received in advance is an ___________
A.	Asset
B.	Liability
C.	Expense
Answer» C. Expense

Discussion

No Comment Found

Related MCQs

As per the SEBI guidelines, on issue of shares, the application money should not be lessthan
The excess price received over the par value of shares, should be credited __________.
When shares are forfeited, the share capital account is debited with ________ and theshare forfeiture account is credited with __________.
The Securities Premium amount may be utilized by a company for __________.
Discount on issue of debentures is shown under the heading in a company's Balance Sheet_______
Debentures represent the _________
Forfeited shares to become ________
To issue shares on Discount mean
To issue shares on Par mean
To issue shares on premium mean

Related Topics

Fundamentals of Accounting

Financial Accounting

Finance

Accounting

Income Tax & Taxation

Auditing

Account Payable & Receivable Fundamentals

Goods & Services Tax Compliance Assessment

Bank Interview

Accounts Payable

Recent Visits

Reply to Comment

Name *

Email *

Comment *

© Copyright 2025 McqOptions. All rights reserved.

Terms & Conditions
Privacy Policy
Disclaimer
Contact Us