[Solved] Payments received in advance from a customer for a contract can be

Q.	Payments received in advance from a customer for a contract can be
A.	Shown as a deduction from contract work-in-progress on asset side
B.	Shown as a liability
C.	Credited to P&L A/c
D.	Either (a) or (b) above
Answer» D. Either (a) or (b) above

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