Post Utme Pan Atlantic University 2025 Accounting Question 35

Practice objective / multiple choice question 35 from the 2025 Post Utme Pan Atlantic University Accounting examination.

Post Utme Pan Atlantic University 2025 Accounting Objective / Multiple Choice

Question 35 POST_UTME_PAN-ATLANTIC_UNIVERSITY • 2025 • ACCOUNTING • objective

The following is a journal entry for XYZ Ltd.: Debit: Rent expense: ₦50,000 Credit: Prepaid rent: ₦50,000 What is the effect of this entry on the company's balance sheet?

Answer Options

A. Decrease in prepaid rent

Correct Answer B. Increase in prepaid rent

C. Decrease in rent expense

D. Increase in rent expense

Correct Answer

Correct Option:

Increase in prepaid rent

About This Question

This is Post Utme Pan Atlantic University 2025 Accounting Question 35. It is one of the objective questions from the 2025 Post Utme Pan Atlantic University Accounting examination.

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