Eve's Apples Opened for Business on January 1, 2012, and Paid

question 102

Multiple Choice

Eve's Apples opened for business on January 1, 2012, and paid for two insurance policies effective that date. The liability policy was $36,000 for eighteen-months, and the crop damage policy was $12,000 for a two-year term. What was the balance in Eve's Prepaid Insurance account as of December 31, 2012?

• A) $9,000.
• B) $18,000.
• C) $30,000.
• D) $48,000.

---

Definitions:

Linguistics Professor

An academic expert or educator specializing in the scientific study of language and its structure, including the study of morphology, syntax, phonetics, and semantics.

Hypotheses

Statements or predictions that can be tested through scientific research or observation to be either confirmed or refuted.

Midterm Exam

A form of assessment that occurs roughly halfway through an academic term to evaluate students' understanding and knowledge of the material covered.

Average Student

A term often used to describe a student who achieves at a level considered typical or within the mid-range of his or her peers.