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”.