If a Company Pays a 12-Month Insurance Premium for $2400

question 41

Multiple Choice

If a company pays a 12-month insurance premium for $2400 on 1 June 2016,then at 30 June 2016 the accounts will show:

• A) a prepayment of $2200 in the balance sheet and an insurance expense of $200 in the profit and loss account.
• B) a prepayment of $200 in the balance sheet and an insurance expense of $2000 in the profit and loss account.
• C) a $2400 asset in the balance sheet.
• D) a $2400 expense in the profit and loss statement.

Understand the core features and diagnostic criteria of Schizophrenia and related disorders as outlined in the DSM-5.

Knowledge of the importance and characteristics of Schneiderian 1st rank symptoms in Schizophrenia.

Recognize the components and effectiveness of the Assertive Community Treatment model in managing Schizophrenia.

Understand the diagnostic criteria for Schizoaffective Disorder according to DSM-5.

---

Definitions:

Market Share

The ratio of sales revenue of the firm to the total sales revenue of all firms in the industry, including the firm itself.

Wants and Needs

Essential drivers of consumer behavior; needs are basic requirements for survival, while wants are desires for specific satisfiers of these needs.

Cost-effective

A term describing a process, action, or method that achieves its intended outcomes without excessive expenditure, providing the best possible return on investment.

Allergic Reaction

An immune system response to a foreign substance that is typically not harmful to the body, such as pollen, pet dander, or certain foods.