Characteristics of Non-Current Assets Q1

a) State 5 characteristics of non-current assets. 10 marks.

b) Elaborate the accounting concepts related to the following situations

(i) Personal medical insurance premium paid which is not recorded in the business book. 5 marks

(ii) Financial Report is prepared for transactions that take place from 01 July 2021 to 30 June, 2022. 5 marks

(M2022-1 Q1, 20 marks)

Leave a Reply