In the balance sheet of not-for-profit making organizations, subscription in arrears is shown under

  • A long-term liabilites
  • B current assets
  • C current liabilities
  • D fixed assets
waec 2022accounting

The correct answer is B. current assets

Subscription in arrears is the sum of money due from members for a particular year but which has not been paid for that year. It is treated as current asset in the balance sheet.

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