The insurance total of R12 000 on 28 February 2023 , the end of the financial year, included a premium of R3 000 that was paid for the period 01 August 2022 to 31 July 2023 . Which of the following statements is correct? A. The insurance expense for the year ended 28 February 2023 amounts to R9 000 . B. R1 750 was paid for the financial year ended 28 February 2024. C. The profit will decrease because of the adjustment entry. D. R1 250 was paid in advance. Which of the following is used, amongst others, in the determination of the financial position of an entity? A. Motor expenses B. Provision for bad debts C. Depreciation D. Interest income