Answer:
a.
Feb 1, 2020
Prepaid Insurance 19440 Dr
Cash 19440 Cr
b.
Dec 31, 2020
Insurance Expense 5940 Dr
Prepaid Insurance 5940 Cr
Explanation:
a.
The purchase of 3 year insurance on 1 Feb 2020 will be recorded by adding the amount of purchase to the prepaid insurance account as it is an advanced purchase of policy. The resulting credit account will be cash which will represent payment for the insurance.
b.
The adjusting entry will be passed based on accrual or matching principle. The insurance expense per month is,
Insurance expense per month = 19440 / 36 = $540
The insurance expense for 2020 = 540 * 11 = $5940
The insurance expense will be debited by $5940 and prepaid insurance will be credited.
Answer: Option (A) is correct.
Explanation:
If the government wishes to increase the level of real GDP, it might reduce <u>Taxes.</u>
This is due to the fact that if government reduces the transfer payment, size of budget deficit or its purchases of goods and services then as a result the level of real GDP deceases because of lower aggregate demand for the product.
Now, if government reduces the taxes, this will increase the individual's disposable income. So, this will results in higher aggregate demand and hence, increases the level of real GDP.
<span>Personal selling, as a form promotion, differs when the effort is a B2B (business to business) sales effort rather than a B2C (business to consumer) sales effort. B2B personal selling requires more prospecting and qualifying of customers. When you are selling to a business, you need to make sure your product is the best qualified for the business you are selling to, to use to sell to their customers. The process is a lot harder because many manufactures are competing to contract out with another company to provide them with a product they can use to make their final product they sell to consumers. </span>
Answer:
stocks
Explanation:
stocks is the correct answer