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At December 31, but before any year-end adjustments, McCarthy Company's Prepaid Insurance account had a balance of $2,400. It was determined that $900 of the Prepaid Insurance had expired. The adjusted balance for Insurance Expense for the year would be

A) $900. B) $1,900. C) $1,200. D) $3,300. E) $2,400.

Over the period 2000 through 2006, the average annual return on stocks was about 20%

Indicate whether the statement is true or false