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Dear lecturer ,
Could you please explain me the following terms:
Rent is paid quarterly in arrears on 1 January,1 April, 1 July and 1 October.
Rent is paid quarterly in advance on 1 January,1 April, 1 July and 1 October.And could you please differentiate these 2 terms in the mean of chronological time because I always get confused with these ?
If rent is paid quarterly in arrears, then it is paid every three months at the end of the period.
(So the payment on 1 January would be the rent for the previous three months – i.e. October, November, and December.)If rent is paid quarterly in advance, then it is paid every three months but at the start of the period.
(So the payment on 1 January would be rent for the following three months – i.e. January, February, and March)I do suggest that you watch my free lectures. They are a complete course for Paper F3 and cover everything needed to be able to pass the exam well.
Excuse me, Lecturer
I got confused with these following terms :
Payments of electricity made during the year
1 August 20X0 for three months to 31 July 20X0 $600
1 November 20X0 for three months to 31 October 20X0 $720Therefore, could you please explain me those above terms ? Which period do these payments cover ?
‘Three months to 31 July 20X0’ means the three months ending on that date. i.e. May, June and July 20X0.
1 August is the date they actually paid the bill for these three months.(They are paying in arrears, which means they are paying after they have used the electricity).
It will help you to watch my free lectures on this. My lectures are a complete free course for Paper F3 and cover everything needed to be able to pass the exam well.
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