On April 1, Smart, Inc

question 22

Multiple Choice

On April 1, Smart, Inc.paid $7,200 for an insurance premium on a three-year insurance policy.How does this transaction affect Smart's accounts?

• A) Increase insurance expense and decrease cash by $7,200 each
• B) Increase prepaid insurance and decrease cash by $7,200 each
• C) Increase unearned insurance and decrease cash by $7,200 each
• D) Increase prepaid insurance and decrease retained earnings by $7,200 each

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Definitions:

Telepresence

Technology that allows a person to feel as if they are present, to give the appearance of being present, or to have an effect, at a location other than their own.

Team Meeting

A gathering of team members to coordinate actions, share updates, and strategize on projects, essentially a synonym for Group Meetings.

Setting Up

The process of establishing or arranging something to be ready for use.

Female Orgasmic Disorder

A sexual dysfunction characterized by difficulty experiencing an orgasm after ample sexual stimulation.