Which of the following statement is false
A)If a lessee leases a part of the leased property to another person , it is called sublease
B)Royalty receivable account is opened in the books of Lessor
C)Recoupable short working is a current assets
D)None of the above

Question

Quizplus · Accepted Answer

Royalty receivable account is actually opened in the books of the lessee, not the lessor. The lessor receives the royalty, so they would record it as royalty income, not a receivable.

Which of the Following Statement Is False