Accountancy, asked by dhawanaruna99, 2 months ago

true or false received in advance is liabilities of business.

Answers

Answered by gowthamraj2005

Answer:

false

because I don't know I jest said it

Answered by jalaj432

Answer:

true

Explanation:

Under the accrual method of accounting, income that is received in advance is a liability because the company that received the money has not yet earned it and it has an obligation (a liability) to deliver the related goods or services in the future.

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