Post Utme Bells University 2024 Accounting Question 4

Practice objective / multiple choice question 4 from the 2024 Post Utme Bells University Accounting examination.

Post Utme Bells University 2024 Accounting Objective / Multiple Choice
Question 4 POST_UTME_BELLS_UNIVERSITY • 2024 • ACCOUNTING • objective

A company has a trial balance that shows a debit balance of ₦10,000 in the account 'Rent Received'. If the company's accounting policy is to recognize revenue when earned, what is the correct treatment for the 'Rent Received' account?

Answer Options

A. Debit the 'Rent Received' account
Correct Answer B. Credit the 'Rent Received' account
C. Debit the 'Rent Paid' account
D. Credit the 'Rent Paid' account
Correct Answer
B
Correct Option:
Credit the 'Rent Received' account

About This Question

This is Post Utme Bells University 2024 Accounting Question 4. It is one of the objective questions from the 2024 Post Utme Bells University Accounting examination.

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