Post Utme Caleb University 2017 Accounting Question 31

Practice objective / multiple choice question 31 from the 2017 Post Utme Caleb University Accounting examination.

Post Utme Caleb University 2017 Accounting Objective / Multiple Choice
Question 31 POST_UTME_CALEB_UNIVERSITY • 2017 • 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 error?

Answer Options

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

About This Question

This is Post Utme Caleb University 2017 Accounting Question 31. It is one of the objective questions from the 2017 Post Utme Caleb University Accounting examination.

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