A Company Reported the Following Information How Much Cash Was Paid for Insurance During 2014?
A)$22,700

question 69

Multiple Choice

A company reported the following information: $\begin{array}{ll} \text {Prepaid insurance, December 31, 2014 } &\$ 14,000 \\ \text { Prepaid insurance, December 31, 2013 } &11,500 \\ \text { Insurance expense for 2014 } &25,200\end{array}$ How much cash was paid for insurance during 2014?

• A)$22,700
• B)$27,700
• C)$39,200
• D)$36,700

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Definitions:

Expected Value

The weighted average of all possible values of a random variable, with weights being their probabilities.

Average Temperature

The mean value of temperature taken over a specified period of time, used to describe climate or weather conditions.

Standard Deviation

A quantitative indicator that calculates the degree of spread or variability among a collection of data points.

Expected Rate

The anticipated return on an investment over a specific period.