In the balance sheet of not-for-profit making organizations, subscription in arrears is shown under
Question 1 Report
In the balance sheet of not-for-profit making organizations, subscription in arrears is shown under
Answer Details
Subscription in arrears is shown under current assets in the balance sheet of not-for-profit making organizations. This is because subscription in arrears is money owed to the organization by its members, which the organization expects to receive in the near future (usually within the next year). Current assets are items that are expected to be converted into cash within a year, and since subscription in arrears will be collected within a year, it is classified as a current asset.
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