Subscription in arrears are
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A
Credited to the income and expenditure account and shown as a liability in the balance sheet
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B
debited to the income and expenditure account and shown as an asset in the balance sheet
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C
credited to the income and expenditure account and shown as a liability in the balance sheet
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D
debited to the income and expenditure account and shown as a liability in the balance sheet
The correct answer is B. debited to the income and expenditure account and shown as an asset in the balance sheet
No explanation given
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