A

Admin • 833.24K Points
Coach

Q. Rent received in advance is shown as:

  • (A) Asset
  • (B) Liability
  • (C) Revenue
  • (D) Expense
  • Correct Answer - Option(B)
  • Views: 23
  • Filed under category Accounting
  • Hashtags:

Explanation by: Admin

Rent received in advance is a liability because the service is not yet rendered.

You must be Logged in to update hint/solution

Discusssion

Login to discuss.

Be the first to start discuss.