Travel Advances Should Be Reported As MCQ?
An Answer To The Multiple Choice Question (MCQ) With Reason / Explanation Travel Advances should be reported as Assets ( Current Assets ), e,g., Receivables on Balance Sheet , as these are paid in advance to employees against which the company / corporation not yet received the benefits. Travel advances are not Supplies, Cash and Investments. So, the correct answer of Multiple Choice Question (MCQ) is “Receivables”.