Question

Deferred revenue expenditure given on the Asset side of the Balance sheet will be:
a Credited to all partners
b. None of these
c. Debited to sacrificing partners
d Debited to old partners​

Answer 1

Answer:

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Answer 2

Deferred revenue expenditure given on the Asset side of the Balance sheet will be d. none of these.

• Deferred revenue is when a company receives payment from a customer before the product or service has been delivered; however, the payment is not yet counted as revenue.
• Deferred revenue, which is also referred to as unearned revenue, is listed as a liability on the balance sheet because, under accrual accounting, the revenue recognition process has not been completed.