Post Utme Osustech 2020 Accounting Question 13

Practice objective / multiple choice question 13 from the 2020 Post Utme Osustech Accounting examination.

Post Utme Osustech 2020 Accounting Objective / Multiple Choice
Question 13 POST_UTME_OSUSTECH • 2020 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦20,000 in the 'Rent' account. However, the 'Rent Received' account shows a credit balance of ₦15,000. What is the correct explanation for this discrepancy?

Answer Options

A. The company has paid rent in advance.
Correct Answer B. The company has received rent in advance.
C. The company has not recorded rent paid in advance.
D. The company has not recorded rent received in advance.
Correct Answer
B
Correct Option:
The company has received rent in advance.

About This Question

This is Post Utme Osustech 2020 Accounting Question 13. It is one of the objective questions from the 2020 Post Utme Osustech Accounting examination.

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