PRC-1 · Chapter 4 · Question 50 of 100
In accounting terminology, when a tenant has not paid their rent for the current month by the reporting date, the landlord will refer to this unpaid amount as rent:
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) In arrears
Explanation
Rent 'in arrears' is synonymous with accrued rent or outstanding rent. It represents income that has been earned by the landlord but not yet received.
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