Concept:Subscription owing is the amount receivable by a social club from its members for unpaid subscriptions.
It is classified as a current asset in the balance sheet.
Explanation:Subscription owing means the subscription due from members but not yet paid to the club.
The club has the right to receive this amount, so it is an asset for the club.
Since it is expected to be received within the next accounting period, it is treated as a current asset.
It is not a liability because the club does not owe this money to anyone.
It is not a tangible asset because it is not a physical possession held for long-term use.
Therefore, in the balance sheet of a social club, subscription owing is shown on the assets side under current assets.
Answer:B. Current asset