A prepayment of insurance premium will appear in
A. The trading account on the debit side
B. The profit and loss account on the credit side
C. The balance sheet on the assets side
D. The balance sheet on the liabilities side
Answer:C
A prepayment of insurance premium will appear in
A. The trading account on the debit side B. The profit and loss account on the credit side C. The balance sheet on the assets side D. The balance sheet on the liabilities side