Income earned which is yet to be collected results in —

CS CSEET · Business Economics & Fundamentals of Accounting and Auditing · PYQS · June 2013
Income earned which is yet to be collected results in —
(A) Increase in capital and increase in liability
(B) Decrease in liability and increase in capital
(C) Increase in asset and increase in liability
(D) Increase in capital and increase in asset.

Answer & Explanation:

Correct Answer: Option (D)

Correct answer: (D) Increase in capital and increase in asset..

Topics: Fundamentals of Accounting

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