Which of the following items does not feature in the balance sheet of a club?
Options
A) Arrears of current year’s subscription
B) Salary arrears paid in the current year >>>>>>>>
C) Rental income received in advance
D) Advances subscription in respect of a coming year
The correct answer is B.
N.B
A balance sheet is a statement of the assets, liabilities, and capital of a business or other organization at a particular point in time, detailing the balance of income and expenditure over the preceding period.
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