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WAEC Accounting 2021 Objective — Question 46

Question 46 of 50 from the West African Examinations Council (WAEC) Accounting 2021 Objective paper, with the correct answer and a full explanation.

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[Monthly Rent payable GH¢3,000; Rent paid on 01/01/2018 GH¢48,000.] Rent expense for 2018 was

  • A. GH¢84,000
  • B. GH¢48,000
  • C. GH¢36,000Correct
  • D. GH¢12,000

Explanation

Since monthly rent is GH¢3,000, yearly rent expense = GH¢3,000 x 12 = GH¢36,000.

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