The adjustment to be made for income received in advance is:

A. Add income received in advance to respective income and show it as asset

B. Deduct income received in advance from respective income and show it as an asset in the Balance Sheet

C. Add income received in advance to respective income and show it as a liability

D. Deduct income received in advance from respective income and show it as a liability
Be the first to comment if anything wrong with this mcq
Your comment successfully submitted!
It will automatically posted after review and approval by our staff member.