Mr. Hamed Al Busaidi a leading a used furniture trader in Oman. He buys used furnitures from various trader and re-sells directly to the customer who need used furniture. At the end of one month he sold 10 numbers of office chairs for the value of OMR 100. Which of the following accounting treatment will be correct for the amount of OMR 100? a. It is treated as sales revenue for the business b. It is treated as Non current asset for the business c. It is treated as current liability for the business d. It is treated as expenses for the business

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Motor Vehicle Insurance

Motor vehicle insurance is a contract between the insurance company that provides insurance cover and the person who owns the vehicle. According to the terms and conditions of the insurance contract, the insurance company reimburses the policyholder for losses and damages. This insurance policy covers the financial risks of the motor vehicle owner. Electronic vehicles are also covered in a vehicle insurance policy, but the insurance rate is relatively higher than other motor vehicle insurance. Motor vehicle insurance is otherwise called an automotive insurance policy.