Q152
Accrued income comes under
A.
Current liability
B.
Capital
C.
Current asset
AnswerD.
Fixed asset
Answer: Option C
Solution
Answer: Option C
Solution:
Accrued income refers to amounts that have been earned, but the amounts have not yet been received. The amount of accrued income that a company has a right to receive as of the date of the balance sheet will be reported in the current asset section of the balance sheet. It could be described as accrued receivables or accrued income.