JAMB Accounting 2021 Objective — Question 10
Question 10 of 40 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2021 Objective paper, with the correct answer and a full explanation.
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10. Which of the following is not a current asset a. Subscription in advance b. Subscription in arrears c. Bills receivable d. Stocks
- A. Subscription in advanceCorrect
- B. Subscription in arrears
- C. Bills receivable
- D. Stocks
Explanation
Subscription in advance is a liability to the organisation (it is income received but not yet earned), not a current asset.
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