Accounts (Principles of Accounts)Accruals, prepayments and provisionsWAEC
Insurance paid ₦12,000 covered 15 months, 3 of which fall into next year. The charge for this year is
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Answer: A. ₦9,600
12,000 × 12/15 = ₦9,600.
An AdmitMe practice question, written for the WAEC syllabus. Not an official past question.