Multiple Choice
A landlord collected $5,000 cash from a tenant for December 2015's rent but the tenant's rent for December is $8,000. Which of the following is true with respect to the landlord's financial statements?
A) $8,000 would be reported on the statement of cash flows.
B) $8,000 would appear on the balance sheet as rent receivable.
C) $8,000 would appear on the income statement as rent revenue earned.
D) $5,000 would appear on the balance sheet as prepaid rent.
Correct Answer:

Verified
Correct Answer:
Verified
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