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An advance receipt of subscription from a member of the non-profit organization is considered as a/an
  • a)
     Liabilit
  • b)
    Asset
  • c)
    Equity
  • d)
    Expense
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
An advance receipt of subscription from a member of the non-profit org...
Because income receive in advance is our liability
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An advance receipt of subscription from a member of the non-profit organization is considered as a/ana)Liabilitb)Assetc)Equityd)ExpenseCorrect answer is option 'A'. Can you explain this answer?
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