Post Utme Ksu 2020 Accounting Question 6

Practice objective / multiple choice question 6 from the 2020 Post Utme Ksu Accounting examination.

Post Utme Ksu 2020 Accounting Objective / Multiple Choice
Question 6 POST_UTME_KSU • 2020 • 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 and credit the Cash account
B. Credit the Rent Received account and debit the Cash account
Correct Answer C. Debit the Rent Received account and credit the Profit or Loss account
D. Credit the Rent Received account and debit the Profit or Loss account
Correct Answer
C
Correct Option:
Debit the Rent Received account and credit the Profit or Loss account

About This Question

This is Post Utme Ksu 2020 Accounting Question 6. It is one of the objective questions from the 2020 Post Utme Ksu Accounting examination.

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