JAMB Accounting 2023 Objective — Question 18

Question 18 of 40 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2023 Objective paper, with the correct answer and a full explanation.

Subscription in arrears is synonymous to A.

A. Insurance in arrears.
B. rent income in arrears.Correct
C. subscription in advance.
D. salaries and wages in arrears.

Explanation

Rent income in arrears and subscription in arrears are synonymous to each other because both are current assets.

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