Which of the Following Entries Records the Payment of Insurance

question 5

Multiple Choice

Which of the following entries records the payment of insurance for the current month?

• A) Cash, debit; Insurance Expense, credit
• B) Insurance Expense, debit; Cash, credit
• C) Insurance Expense, debit; Accounts Receivable, credit
• D) Prepaid Insurance, debit; Cash, credit

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Definitions:

Hippocratic Oath

An ethical code attributed to the ancient Greek physician Hippocrates, outlining principles for the conduct of medical professionals.

Message

A piece of communication or information conveyed from one person, group, or system to another.

Arbitration

A process in which opposing sides choose a person or persons outside the court system, often someone with special knowledge in the field, to hear and decide a dispute.

Personal Liberty

The freedom of individuals to have control over their own actions and decisions without undue interference from government or external forces.