2023 · Q65
‘Outstanding rent’ may be classified as:
General Accounting Principles, Auditing and InsuranceRecording transactions
- ANatural personal account
- BRepresentative personal account
- CReal account
- DNominal account
Explanation
'Outstanding rent' represents an amount owed to a specific person (the landlord), i.e., it stands for a personal account, and is therefore classified as a representative personal account. It is not a natural personal account (a real individual), nor a real account (property) nor a nominal account (expense/income). Hence (b).