By trying to preserve the architectural style of the area and the paintings, this is an example of Aesthetic zoning
<u>What is Aesthetic zoning?</u>
Tis is a type of zoning that is made to conform with architectural landscapes. The aim of this type of zoning is for the preservation of the aesthetics of the community.
This type of zoning is mostly done in those residential areas that are planned.
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Retained profits have several major advantages: They are cheap (though not free) – effectively the "cost of capital" of retained profits is the opportunity cost for shareholders of leaving profits in the business (i.e. the return they could have obtained elsewhere)
Answer:
$700 (not given in the options)
Explanation:
When the policy is purchased with a payment made in advance, the entries recorded are
Debit prepaid insurance $8,400
Credit Cash account $8,400
After the first month, the expense incurred is
= 1/12 × $8,400
= $700
Entries then required
Debit Insurance expense $700
Credit Prepaid Insurance $700