On April 1, a Company Paid the $1,350 Premium on a Three-Year

question 225

Multiple Choice

On April 1, a company paid the $1,350 premium on a three-year insurance policy with benefits beginning on that date. What amount of the insurance expense will be reported on the annual income statement for the year ended December 31?

• A) $1,350.00.
• B) $337.50.
• C) $37.50.
• D) $1,012.50.
• E) $450.00.

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Definitions:

Pacemaker Potential

Pacemaker potential refers to the spontaneous gradual depolarization of the membrane potential in pacemaker cells, leading to the initiation of action potentials in certain heart cells.

SA Node

The sinoatrial node, often described as the heart's natural pacemaker, initiating the electrical impulses that set the pace for cardiac rhythm.

Voltage-gated

Refers to ion channels that open or close in response to changes in electrical potential across a cell's membrane.

Intercalated Discs

Specialized connections between heart muscle cells (cardiomyocytes) that facilitate coordinated contraction.