Post Utme Covenant University 2017 Accounting Question 37

Practice objective / multiple choice question 37 from the 2017 Post Utme Covenant University Accounting examination.

Post Utme Covenant University 2017 Accounting Objective / Multiple Choice
Question 37 POST_UTME_COVENANT_UNIVERSITY • 2017 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦20,000 in the account 'Rent Received'. What is the correct treatment of this account in the company's financial statements?

Answer Options

A. Debit side of the balance sheet
B. Credit side of the balance sheet
Correct Answer C. Income statement
D. Statement of changes in equity
Correct Answer
C
Correct Option:
Income statement

About This Question

This is Post Utme Covenant University 2017 Accounting Question 37. It is one of the objective questions from the 2017 Post Utme Covenant University Accounting examination.

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