Multiple choice

The rent payable to the partner for the use of his building should be

  1. debited to profit and loss appropriation account

  2. credited to profit and loss appropriation account

  3. debited to profit and loss account

  4. credited to profit and loss account
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

It is the correct answer. The rent paid to the partner is a charge. Thus, it should be debited to this account.

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