Which of the Following Is the Proper Adjusting Entry, Based

question 185

Multiple Choice

Which of the following is the proper adjusting entry, based on a prepaid insurance account balance before adjustment of $14,000 and unexpired insurance of $3,000, for the fiscal year ending on April 30?

• A) debit Insurance Expense, $3,000; credit Prepaid Insurance, $3,000
• B) debit Insurance Expense, $14,000; credit Prepaid Insurance, $14,000
• C) debit Prepaid Insurance, $11,000; credit Insurance Expense, $11,000
• D) debit Insurance Expense, $11,000; credit Prepaid Insurance, $11,000

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Definitions:

Big Five

A model describing human personality through five broad domains: openness, conscientiousness, extraversion, agreeableness, and neuroticism.

Nomothetic

An approach in psychology focused on studying and identifying general laws that apply to all individuals, as opposed to idiographic methods which highlight individual differences.

Monotheistic

Relating to or characterized by the belief in the existence of only one god.

Personality Trait

Enduring characteristics or qualities that define an individual's behavior and attitude.