| Directions: From the four options given, shade the appropriate correct option in the space provided for it on the OMR Answer Sheet. |
A) Earnest money
B) Advance
C) Interest
D) Solarium
Correct Answer: B
Solution :
Ans. An advance payment, or simply an advance, is the part of a contractually due sum that is paid in advance for goods or services, while the balance included in the invoice, invoice will only follow the delivery. It is called a prepaid expense in accrual accounting.
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