this is coming from question 4/47 of the mock exam (where the details of a company’s insurance policy is shown)
Correct me if i am wrong but since we had a prepayment before the financial year end June 2008, should we not reverse that prepayment and bring in the amount to the current financial year ?
Also, why do we take a total of 4 months only ? should it not be 12 ?
Please help clear my doubts ASAP.
Thanking you in advance,
Please say which mock exam you are referring to.
(If it is our mock exam, then you will have to give me slightly more about the question so that I can find it. It is because the questions are selected at random from a large bank of questions, so question 4 for you will not be question 4 for everyone 🙂 )
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