Which of the following should be shown on the asset side of the Balance sheet:

The correct answer is: D. None of the above

Preliminary expenses are costs incurred before a company starts trading. They are not assets because they do not provide future economic benefits. Outstanding rent is a liability because it is a debt that the company owes. Share premium account is a part of equity because it represents the amount paid by shareholders in excess of the nominal value of their shares.

Here is a brief explanation of each option:

• Preliminary expenses are costs incurred before a company starts trading. They are not assets because they do not provide future economic benefits. For example, a company may incur costs in connection with the formation of the company, such as legal fees and accounting fees. These costs are not assets because they will not be used in the future to generate revenue.
• Outstanding rent is a liability because it is a debt that the company owes. For example, if a company has a lease agreement that requires it to pay rent on a monthly basis, and the company has not yet paid the rent for the current month, then the company has an outstanding liability for rent.
• Share premium account is a part of equity because it represents the amount paid by shareholders in excess of the nominal value of their shares. For example, if a company issues shares with a nominal value of $1 per share, and a shareholder pays $2 per share for the shares, then the company will record $1 in the share capital account and $1 in the share premium account.

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