Accounts (Principles of Accounts)Accruals, prepayments and provisionsJAMB
Commission of ₦12,000 earned but not yet received at the year end is shown in the balance sheet as
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Answer: C. a current asset
Income due but not received (accrued income) is owed to the business.
An AdmitMe practice question, written for the JAMB syllabus. Not an official past question.