O-LevelAccountingAccounting procedures7707/11 · May/June 2015 · Q231 Mark
At the end of the financial year, some members of Allsports Club had not paid their subscription. How will these unpaid subscriptions be recorded by Allsports Club? receipts and payments account, income and expenditure account, statement of financial position (asset, liability) A ✓, , ✓, B , ✓, , ✓ C , ✓, ✓, D , ✓, , ✓
Areceipts and payments account: Yes, income and expenditure account: No, asset: Yes, liability: No
Breceipts and payments account: No, income and expenditure account: Yes, asset: No, liability: Yes
Creceipts and payments account: No, income and expenditure account: Yes, asset: Yes, liability: No
Dreceipts and payments account: No, income and expenditure account: Yes, asset: No, liability: Yes
✓ Correct answer
D: receipts and payments account: No, income and expenditure account: Yes, asset: No, liability: Yes
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