Which of the following is the effect of unearned income on final accounts? (a) Net profit decreases

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Which of the following is the effect of unearned income on final accounts?

(a) Net profit decreases and liabilities increase.

(b) Net profit decreases and liabilities decrease.

(c) Net profit increases and asset increase.

(d) Net profit does not get affected but liabilities increase.

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Financial Accounting

ISBN: 9780071078023

1st Edition

Authors: Dhanesh K. Khatri

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Question Posted: Dec 15, 2023 11:39 PM

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Which of the following is the effect of unearned income on final accounts? (a) Net profit decreases

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Financial Accounting

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