Accounting WAEC

A trader paid insurance premium of N45,000 for 15 months ended 31st March, 2000. He prepares the account to 31st December. The amount carried in the Balance sheet is classified as?
A trader paid insurance premium of N45,000 for 15 months ended 31st March, 2000. He prepares the account to 31st December. The amount carried in the Balance sheet is classified as?A trader paid insurance premium of N45,000 for 15 months ended 31st March, 2000. He prepares the account to 31st December. The amount carried in the Balance sheet is classified as?

A. current asset
B. current liability
C. capital
D. long-term liability

Correct Answer: Option A

A. current asset

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