Rent owing by a business is a liability, as it represents an amount that the business owes to its landlord or property owner. This liability is shown in the balance sheet, which is a financial statement that shows the assets, liabilities, and equity of a business at a specific point in time.
The balance sheet is divided into two main sections: the assets section and the liabilities and equity section. The rent owing by a business is shown in the liabilities section of the balance sheet, under the category of current liabilities, which includes all liabilities that are due within a year or less.
The trading account is a statement that shows the gross profit or loss of a business for a specific period, and it does not include any information about liabilities. The trial balance is a list of all the accounts in the general ledger and their respective balances, used to ensure that the debits and credits in the accounting system are equal. The cash book is a record of all cash transactions made by a business and does not include any information about liabilities.
Therefore, the correct answer is C, the balance sheet, as rent owing by a business is shown as a liability in this financial statement.