Accounting Multiple Choice Question – 23 November 2021

The journal entry ‘Debit Subscription Income, Credit Creditors’ was made in the accounting records of a golf club.

What does this represent?

Select ONE answer:

1. Membership subscriptions owed by members
2. Membership subscriptions received by cheque
3. Membership subscriptions received in advance
4. Membership subscriptions refunded to members

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 3

1. Not correct
2. Not correct
3. Correct
4. Not correct

This work is licensed under a Creative Commons Attribution 4.0 International License.