Use the following information to answer this question.

Rent prepaid – 1/01/2014 – N600
Rent paid – 31/12/2014 – N3,000
Rent prepaid – 31/12/2014 – N400.

The balance sheet as at 31st December 2014 will show?

A. Current asset of N600
B. Current asset of N400
C. Current liability of N400
D. Current asset of N600

Correct Answer: Option C

C. Current liability of N400