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A trader paid insurance premium of N1,350 for 15 months ended 31st March 1991. He...

Accounts - Principles of Accounts
WAEC 1992
A trader paid insurance premium of N1,350 for 15 months ended 31st March 1991. He prepares to 31st December. The amount carried in the Balance Sheet is classified as
  • A. current asset
  • B. current liabilities
  • C. investment
  • D. fictitious asset
  • E. reserve
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Correct Answer: Option A
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