Accounting 0452 · IGCSE · Capital and revenue expenditure and receipts

Capital and revenue expenditure and receipts — practice question

A trader settles her insurance premium on 1 January every year, covering the next 12 months. Her insurance payments were as follows: - 1 January 2022: $1680$ - 1 January 2023: $1920$ How much did the trader record for insurance in her income statement for the year ended 31 March 2023?

  • A$1680$
  • B$1740$
  • C$1920$
  • D$2160$

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