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)