JAMB Accounting 2023 Objective — Question 8

Question 8 of 40 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2023 Objective paper, with the correct answer and a full explanation.

Unclaimed rent income will appear in the balance sheet as

A. Liability.Correct
B. Fixed assets.
C. Current Asset.
D. Capital.

Explanation

Rent income is an asset to the organization if it is not paid as at when due. It is a current asset because it has short life span.

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