A Business Pays Its Insurance Premium of $2,400 on November

question 83

Multiple Choice

A business pays its insurance premium of $2,400 on November 1 of each year.On January 1 of the new year (after December 31 adjustments) ,the Prepaid insurance account has a debit balance of:

• A) $1,200.
• B) $400.
• C) $2,400.
• D) $2,000.

---

Definitions:

FDA

The Food and Drug Administration, an agency of the United States Department of Health and Human Services responsible for protecting and promoting public health through the control and supervision of food safety, tobacco products, dietary supplements, prescription and over-the-counter pharmaceutical drugs, vaccines, biopharmaceuticals, medical devices, and veterinary products.

Whistleblowers

Individuals who expose information or activities within a private, public, or government organization deemed illegal, unethical, or not correct.

Mandatory Recalls

Orders issued by a government agency or body mandating the removal of defective or unsafe products from the market.

First Amendment Protection

Refers to the safeguards provided by the First Amendment to the U.S. Constitution, which includes freedoms of speech, religion, press, assembly, and the right to petition the government.