Dear Sir,
How a refund of insurance premium is treated? As a decrease in insurance expense (Cr Insurance exp a/c) or an income (Cr other income a/c) ?
Ask the Tutor ACCA FA
Decrease in expense or income?
11y ago#1As a decrease in the insurance expense.
Thanks sir.
11y ago#3You are welcome, Ahsan :-)
Sign into reply to this topic.