Use the information below to answer questions Subscription received during the year N30,000 Subscription owed…

Accounts - Principles of Accounts JAMB 2001

Use the information below to answer questions

Subscription received during the year N30,000
Subscription owed last year N4,000
Subscription received for next year N6,000

The N6,000 subscription received is?

  • current asset
  • current liability checkmark
  • fixed asset
  • capital

The correct answer is: B

Explanation

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