Post Utme Abu 2021 Accounting Question 30

Practice objective / multiple choice question 30 from the 2021 Post Utme Abu Accounting examination.

Post Utme Abu 2021 Accounting Objective / Multiple Choice
Question 30 POST_UTME_ABU • 2021 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦15,000 in the account 'Rent Received'. However, the company's accounting records show that it has not received the rent from its tenant. What is the correct treatment of this account?

Answer Options

A. Debit the account 'Rent Received' by ₦15,000
Correct Answer B. Credit the account 'Rent Received' by ₦15,000
C. Debit the account 'Rent Received' by ₦15,000 and credit the account 'Rent Paid' by ₦15,000
D. Credit the account 'Rent Received' by ₦15,000 and debit the account 'Rent Paid' by ₦15,000
Correct Answer
B
Correct Option:
Credit the account 'Rent Received' by ₦15,000

About This Question

This is Post Utme Abu 2021 Accounting Question 30. It is one of the objective questions from the 2021 Post Utme Abu Accounting examination.

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