- 1 Marks
FA – May 2012 – L1 – SA – Q1 – Elements of Financial Statements
Identifying the item that does not belong in the statement of financial position of a club.
Question
The following items normally feature in the statement of financial position of a club EXCEPT:
A. Current year’s subscription
B. Salary in arrears
C. Rental income received in advance
D. Advance subscription in respect of a coming year
E. Subscription in arrears.
Find Related Questions by Tags, levels, etc.
- Tags: Club Accounting, Rental Income, Salary, Subscription
- Level: Level 1
- Topic: Elements of Financial Statements
- Series: MAY 2012
