Calls in advance are treated in the balance sheet as_____...
Calls in advance are treated in the balance sheet as______
Current asset
Fixed asset
Current liability
Fixed liability
Correct answer is C
Calls in advance is treated as a current liability until the calls are made and the amount actually becomes payable by the shareholders
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Use the following to answer the given question \(\begin{array}{c|c} & N & & N \\ \h...