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Question 70Asked in DSSSB TGT Computer Science (Technical), 12 Sep 2025, Shift 1 (9:00 AM)

MC Publications has received rent amounting to ₹2,50,000 during the financial year ending

MC Publications has received rent amounting to ₹2,50,000 during the financial year ending 31st March 2024. Out of this ₹50,000 represents rent relating to next financial year. The rent account to be credited to the profit and loss account for the year ended 31st March 2024 is ________ and the rent received in advance will be shown as a/an ________.
  1. A₹1,50,000; Liability
  2. B₹2,00,000; Asset
  3. C₹3,00,000; Asset
  4. D₹2,00,000; Liability
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Correct answer: (D) ₹2,00,000; Liability

Explanation

Only the rent for the current year is income: 2,50,000 - 50,000 = 2,00,000 goes to the P&L account. Rent received in advance is unearned income, a current liability in the balance sheet.

From DSSSB TGT Computer Science PYQ (Technical), 12 Sep 2025, Shift 1 (9:00 AM)

This is question 70 of DSSSB TGT Computer Science PYQ (Technical), 12 Sep 2025, Shift 1 (9:00 AM). See all questions of this paper with answers, or attempt the paper as a timed online test to get your score and all-India rank.