Subscription Received in Advance is a : Option 1: Liability Option 2: Asset Option 3: Income Option 4: Expenditure

The answer is 'Liability'. View full solution:

CUET Accountancy - Subscription Received in Advance is a : | PYQs + Solutions

CUET Accountancy 2023 11 June Shift 3

Financial Statements

Easy

Liability

Asset

Income

Expenditure

✅ Correct Option: 1

Related questions:

14 May Shift 1

Match List-I with List-II

List-I	List-II
(A) Shareholders fund	(I) Long-term loans and advances
(B) Non-current Liabilities	(II) Reserves and Surplus
(C) Current Liabilities	(III) Long term provisions
(D) Non-Current Assets	(IV) Trade payables

Choose the correct answer from the options given below:

11 June Shift 3

Non-Cash transactions will be excluded from :

24 May Shift 1

Match List-I with List-II

List-I	List-II
Expenses incurred to earn the income	Explanation
(A). Purchase of Stock-in-trade	(I). Expenses towards interest charges during the year on the borrowings
(B). Employees benefit expenses	(II). Diminution in the value of fixed assets
(C). Finance cost	(III). Purchases of goods for the purpose of trading
(D). Depreciation	(IV). Expenses incurred on employees towards salary, wages, leave encashment, staff welfare, etc

Choose the correct answer from the options given below: