An advance receipt of subscription from a member of the non-profit organisation is considered as a/an

Expense

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Liability

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Equity

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Asset

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Solution

The correct option is B
Liability

An advance receipt of subscription from a member of the non-profit organisation is considered as a liability.

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Similar questions

A receipt of subscription outstanding from a member of the non-profit organisation is considered as a/an __________.

Rent expense of a non-profit organisation paid in advance is classified as a/an ____

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