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Financial Forensics · Quiz 1 · 16 Jul 2023 · May 2023 term

Question 8: XYZ Inc. hired a factory shed for monthly rent of ₹ 65,00…

Question 8

+1 markOne correct option

XYZ Inc. hired a factory shed for monthly rent of ₹ 65,000. In the month of July 2022 the business paid only 30% of the rent at the end of the month and the rest was outstanding. The rental expenses in the income statement for the month of July will be

  1. A

    ₹ 45,500

  2. B

    ₹ 65,000

  3. C

    Not an expense till the full amount is paid

  4. D

    ₹ 19,500

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Correct answer

  • B

    ₹ 65,000

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Question 8 of 35 in the IIT Madras BS Financial Forensics (Financial Forensics) Quiz 1 paper sat on 16 Jul 2023, in the May 2023 term (IIT M DEGREE AN2 EXAM QPE2 16 JULY 2023). It carries 1 mark.

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