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A trader paid insurance premium of ₦1,350 for 15 months ended 31st March 1991....


Question

A trader paid insurance premium of ₦1,350 for 15 months ended 31st March 1991. He prepares to 31st December. The amount carried in the Balance Sheet is classified as

Options

A) current asset

B) current liabilities

C) investment

D) fictitious asset

E) reserve

The correct answer is A.


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