Match (by letter) each of the following as being :
-3 months of revenues received in advance for an annual subscription to a magazine
A) current liability (CL)
B) non-current liability (NCL)
C) neither (NA).

Question

Quizplus · Accepted Answer

Revenues received in advance for services to be provided in the future, such as an annual magazine subscription, are recorded as a current liability because the obligation to provide the service is expected to be settled within the next twelve months.

Match (By Letter) Each of the Following as Being