The N6,000 subscription received is?
...Subscription received during the year N30,000. Subscription owed last year N4,000. subscription received for next year N6,000.
use the details above to answer the following question.
The N6,000 subscription received is?
Capital
Fixed asset
Current liability
Current asset
Correct answer is C
A subscription is a relatively new business model by which a customer agrees to pay the company for products or services throughout a specified time-period. For example, the customer may agree to purchase a one-year subscription to a magazine which he receives on a regular basis (monthly, weekly, etc.).
Current liabilities are a company's debts or obligations that are due within one year or within a normal operating cycle. While current asset refers to cash and other assets that are expected to be converted to cash within a year. In this case, the company is owing a subscriber for a good or service that has already been paid for (by the subscriber), but not yet delivered by the company. on the part of the company's, it will be considered a liability due within a year and on the subscriber' part, an asset due within a year.
The basic role of accounting is to ...
Which of the following is a primary source of entry into the debtors ledger? ...
Accrual accounting differs from cash accounting because it recognizes? ...
Which of the following indicate that a partnership business is in place? (i) There is a busin...
The loss made by a non profit making organization is called ...
The following appears in trading account except ...
Which of the following is not charged to manufacturing account? ...