WAEC Book Keeping 2024 Objective — Question 29

Question 29 of 40 from the West African Examinations Council (WAEC) Book Keeping 2024 Objective paper, with the correct answer and a full explanation.

29. Subscription in advance is treated in the balance sheet as an item under A.

A. fixed assets.
B. current assets.
C. long term liabilities.
D. current liabilities.Correct

Explanation

Subscription in advance is undue income already paid. It is a current liability to the company.

Sign up free to unlock

Score tracking
Practice history
Saved questions
Progress dashboard
Personalized sessions
Weak-topic breakdown

…and/or go further with premium services and No Ads.

Create free account

More questions from Book Keeping 2024 Objective More Book Keeping past papers