Subscription received in advance during the current year is:
A) An income
B) An Asset
C) A liability
D) None of these
Correct Answer:
Verified
Q10: Receipts and Payments A/c is a summary
Q11: Out of the following items, which one
Q12: In case specific fund is maintained, the
Q13: All receipts from sale of consumable items
Q14: Capital fund is calculated:
A)Income-Expenditure
B)Assets Liabilities
C)Capital + Liabilities
D)None
Q16: Balance of Income and Expenditure Account shows:
A)Cash
Q17: Property received as a result of the
Q18: Receipts and Payments Account usually indicates:
A)Surplus
B)Capital fund
C)Debit
Q19: Income and Expenditure Account generally indicates:
A)Surplus/ deficit
B)Cash
Q20: Donation received for a special purpose:
A)Should be
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