When an income is received in advance, the treatment in the Profit & Loss account and balance sheet, respectively, will be:

A

deducted from the respective income on the credit side; shown on the liabilities side

B

deducted from the respective income on the credit side; shown on the assets side

C

added to the respective income on the credit side; shown on the assets side

D

added to the respective income on the credit side; shown on the liabilities side