Post Utme Bsu 2024 Accounting Question 11

Practice objective / multiple choice question 11 from the 2024 Post Utme Bsu Accounting examination.

Post Utme Bsu 2024 Accounting Objective / Multiple Choice
Question 11 POST_UTME_BSU • 2024 • 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 any rent from its tenants. What is the correct treatment for this discrepancy?

Answer Options

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

About This Question

This is Post Utme Bsu 2024 Accounting Question 11. It is one of the objective questions from the 2024 Post Utme Bsu Accounting examination.

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