quiz 1 Welcome to your OUT RENT Outstanding expenses are _____ in the current accounting period but are left unpaid.IncurredReceivedRetainedOutstanding expense areAssetLiabilityLossRent prepaid as at the commencement of the year was Rs.8,000. Having agreed to pay rent at Rs. 4,000 per month, the business was able to pay during the year only Rs. 28,000. What is the position at the year-end?Rent pre-paid is Rs.12,000Rent outstanding Rs 12000Rent pre-paid is Rs.14,000Rent outstanding Rs 20,000Staff salary remaining unpaid as at the year-end should be accounted for asDebit salary payable Credit salary A/cDebit salary A/c Credit Cash A/cDebit salary A/c Credit salary payable A/c
