Accounting JAMB

In the balance sheet of a not-for-profit-making organization; subscription paid in advance is regarded as a?
In the balance sheet of a not-for-profit-making organization; subscription paid in advance is regarded as a?In the balance sheet of a not-for-profit-making organization; subscription paid in advance is regarded as a?

A. current assets
B. current liability
C. capital
D. reserve

Correct Answer:

Option B – current liability

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