On January 1, 2016, Prepaid Insurance of Maywood, Inc. had a beginning balance of $1,400. Three months of insurance premiums remain in the beginning balance
On February 1, 2016, the company paid an annual insurance premium in the amount of $3,700 for the period beginning April 1. On February 28, 2016, the balance in Prepaid Insurance is $934. The deferred expense was initially recorded as an asset.
Indicate whether the statement is true or false
FALSE .Insurance premium per month = $1,400 / 3 = $467
Balance in Prepaid Insurance as of
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Which of these statements about reverse logistics is BEST?
A) Reverse logistics systems are usually less cost-efficient than forward-based systems. B) Reverse logistics systems are usually designed to be less flexible than forward-based systems. C) Reverse logistics systems usually play no role in customer satisfaction. D) Reverse logistics systems usually use the same processes and players that comprise the forward-based system. c
The individual retirement account (IRA) is primarily appropriate for:
A) employees without company pension plans. B) employees of small businesses. C) self-employed workers. D) small business owners.