JAMB Accounting 2013 Objective — Question 30
Question 30 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2013 Objective paper, with the correct answer and a full explanation.
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Which of the following is accounted for in receipts and payments account?
- A. Subscriptions received in advanceCorrect
- B. Subscriptions due not yet received
- C. Accrued expenses on annual dances
- D. Depreciation
Explanation
Subscriptions received in advance is already actual cash received, so it is treated in the receipts and payments account.
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