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Question Practice

What type of accounting entry is made to adjust income received in advance when the revenue is recognized?

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MCQ_SA
CBSE
Class 11
Accountancy
Accountancy - II
Financial Statements - II
Question Bank

What type of accounting entry ...

Single Answer MCQ
Q-00054331

What type of accounting entry is made to adjust income received in advance when the revenue is recognized?

1

Debit income received in advance, credit income

2

Debit income, credit cash

3

Debit cash, credit income

4

Debit income received in advance, credit liabilities

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