Post Utme Esut 2022 Accounting Question 17

Practice objective / multiple choice question 17 from the 2022 Post Utme Esut Accounting examination.

Post Utme Esut 2022 Accounting Objective / Multiple Choice
Question 17 POST_UTME_ESUT • 2022 • ACCOUNTING • objective

A company has a trial balance that shows a debit balance of ₦50,000 in the account 'Rent Received'. However, the company's accounting records show that the rent was actually paid to the landlord. What is the correct treatment of this error?

Answer Options

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

About This Question

This is Post Utme Esut 2022 Accounting Question 17. It is one of the objective questions from the 2022 Post Utme Esut Accounting examination.

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