Blueberry Corp $\begin{array}{llr} \text { Loss due to theft } &\$189,000\\ \text { Payment of fire insur ance for calendar year 2020 } &270,000\\\end{array}$

question 15

Short Answer

Blueberry Corp. had the following transactions during the quarter ended March 31, 2020: $\begin{array}{llr} \text { Loss due to theft } &\$189,000\\ \text { Payment of fire insur ance for calendar year 2020 } &270,000\\\end{array}$
What amount should be included in Blueberry's income statement for the quarter ended March 31, 2020? $\begin{array}{ccc} &\text { Loss from Theft}&\text {Insurance Expense}\\\end{array}$
A) $\begin{array}{ccc} &\quad\quad \$ 0 &\quad\quad\quad\quad\quad \$ 270,000 \\\end{array}$
B) $\begin{array}{ccc} &\quad \$ 189,000 & \quad\quad\quad\$ 270,000 \\\end{array}$
C) $\begin{array}{ccc}&\quad \$ 31,500 &\quad\quad\quad\quad \$ 67,500 \\\end{array}$
D) $\begin{array}{ccc} &\quad \$ 189,000 &\quad\quad\quad\quad \$ 67,500\end{array}$

• A)\(\begin{array}{ccc} &\quad\quad \$ 0 &\quad\quad\quad\quad\quad \$ 270,000 \\\end{array}\)
• B)\(\begin{array}{ccc} &\quad \$ 189,000 & \quad\quad\quad\$ 270,000 \\\end{array}\)
• C)\(\begin{array}{ccc}&\quad \$ 31,500 &\quad\quad\quad\quad \$ 67,500 \\\end{array}\)
• D)\(\begin{array}{ccc} &\quad \$ 189,000 &\quad\quad\quad\quad \$ 67,500\end{array}\)

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Definitions:

Morphine

A powerful opioid analgesic drug used to relieve severe or chronic pain by acting directly on the central nervous system.

Utilitarianism

An ethical theory that posits the best action is the one that maximizes utility, or the greatest happiness for the greatest number of people.

Beneficence

The ethical principle that requires actions to promote good and benefit others, often guiding healthcare professionals.

Autonomy

The capability of a person to make an informed, uncoerced decision about their own life and actions.