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

Expense

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Liability

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Equity

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Asset

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Open in App

Solution

The correct option is D
Asset

Rent paid in advance is classified as an asset

Suggest Corrections

Similar questions

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

Join BYJU'S Learning Program