At the beginning of the year, the Prepaid Insurance account had a $1,200 balance which represented an insurance policy that will expire in two years. On July 1, a 3-year, $1,800 policy on a newly constructed building was purchased. The December 31 year-end, adjusting entry will be:
a. Insurance Expense, debit, $3,000; Prepaid Insurance, credit, $3,000.
b. Insurance Expense, debit, $1,200; Prepaid Insurance, credit, $1,200.
c. Insurance Expense, debit, $1,000; Prepaid Insurance, credit, $1,000.
d. Insurance Expense, debit, $ 900; Prepaid Insurance, credit, $900.
e. none of the above.
d
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Discriminant analysis can be used to answer questions such as ________
A) How much of the variation in sales can be explained by advertising expenditures, prices, and level of distribution? B) In terms of demographic characteristics, how do customers who exhibit store loyalty differ from those who do not? C) What are the distinguishing characteristics of consumers who respond to direct mail solicitations? D) Both B and C are correct.
ERISA requires that employee contributions to a qualified pension plan
A) vest by the fifth year under cliff vesting. B) vest by the tenth year under graded vesting. C) vest immediately. D) vest by age 65.