menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Financial Accounting
  4. Exam
    Exam 23: Accounting Concepts and Practices
  5. Question
    Income Received in Advance by a Business Units Is
Solved

Income Received in Advance by a Business Units Is

Question 11

Question 11

Multiple Choice

Income received in advance by a business units is


A) A liability
B) An assets
C) A loss
D) Gain

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q6: Income and expenditure account is the _

Q7: Purchase ledger contains the accounts of<br>A)Debtors<br>B)Creditors<br>C)Total purchase<br>D)All

Q8: Treatment of capital expenditure as revenue expenditure

Q9: Special journal is also called<br>A)Journal proper<br>B)Subsidiary books<br>C)Original

Q10: Transactions of a general nature which occur

Q12: Goods sold on credit will be entered

Q13: Debit balance of all personal accounts are

Q14: 1/6 profit on sales means _ on

Q15: Closing stock given in the trial balance

Q16: In non - profit organizations excess of

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines