Calls in advance are treated in the balance sheet as_______

Calls in advance are treated in the balance sheet as_______

  • A.
    Current asset
  • B.
    Fixed asset
  • C.
    Current liability
  • D.
    Fixed liability
Correct Answer: Option C
Explanation

calls in advance is treated as a current liability until the calls are made and the amount actually becomes payable by the shareholders

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