Post Utme Ksu 2020 Accounting Question 16

Practice objective / multiple choice question 16 from the 2020 Post Utme Ksu Accounting examination.

Post Utme Ksu 2020 Accounting Objective / Multiple Choice
Question 16 POST_UTME_KSU • 2020 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦50,000 in the account 'Rent Received'. What is the correct treatment of this account in the preparation of the company's financial statements?

Answer Options

A. Debit the account in the balance sheet
Correct Answer B. Credit the account in the balance sheet
C. Debit the account in the income statement
D. Credit the account in the income statement
Correct Answer
B
Correct Option:
Credit the account in the balance sheet

About This Question

This is Post Utme Ksu 2020 Accounting Question 16. It is one of the objective questions from the 2020 Post Utme Ksu Accounting examination.

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