Question :
Which of the following will appear on the asset side of the Balance Sheet of a club?
Option 1:
Specific fund
Option 2:
Surplus earned during the year
Option 3:
Salary outstanding
Option 4: Subscription outstanding
Correct Answer: Subscription outstanding
Solution : Subscription outstanding is the income accrued but not received hence it is an asset and will come in the Balance Sheet. Hence, the correct option is 4.