Question
Asagai (Pty) Ltd pays a maintenance contractor to maintain its premises. The maintenance contractor is paid on an annual basis. On 1 November 2022,
Asagai (Pty) Ltd pays a maintenance contractor to maintain its premises. The maintenance contractor is paid on an annual basis. On 1 November 2022, the company paid the maintenance contractor R40 000 to maintain the building from 1 November 2022 to 31 June 2023. This is the only prepaid expense incurred for the 2022 year of assessment. How much will be deducted in terms if prepaid expenses for the company for the year of assessment ending February 2022? O A. 0 O B. 120 000 O C. 80 000 O D. 40 000
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Accounting A Level And AS Level
Authors: Harold Randall
1st Edition
0521539935, 978-0521539937
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