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O-LevelAccountingAccounting procedures7707/12 · May/June 2023 · Q221 Mark

A trader pays her insurance premium on 1 January each year for the following 12 months. She made the following payments for insurance. 1 January 2022 1680 1 January 2023 1920 How much did the trader include for insurance in her income statement for the year ended 31 March 2023?

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

✓ Correct answer

B: $1740

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About this question

Topic
Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source
O-Level Accounting, May/June 2023 Paper 1 Variant 2, question 22.

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