Financial and Management Accounting

1: If 'Incomes received in advance" appears in the trial balance, it
A.
Will be shown in Profit and Loss Account by way of deduction from the income received
B.

Will be credited to Profit and Loss Account

C.

Will not be shown anywhere

D.
Will be shown on the liabilities side of the balance sheet only
 

Answer : D

Explanation :

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Option: A

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