[amp_mcq option1=”Rent is paid in cash” option2=”Rent is received” option3=”Rent is due, but payment has not beent made” option4=”Rent has been paid in advance” correct=”option3″]
The correct answer is C. Rent is due, but payment has not been made.
Outstanding rent is rent that is due but has not yet been paid. It is a liability for the tenant and an asset for the landlord. Outstanding rent can be calculated by multiplying the monthly rent by the number of months that rent is in arrears.
Option A is incorrect because rent that is paid in cash is not outstanding. Option B is incorrect because rent that is received is not necessarily outstanding. Option D is incorrect because rent that has been paid in advance is not outstanding.