Eve's Apples Opened Business on January 1, 2013, and Paid

question 115

Multiple Choice

Eve's Apples opened business on January 1, 2013, and paid for two insurance policies effective that date. The liability policy was $36,000 for 18 months, and the crop damage policy was $12,000 for a two-year term. What is the balance in Eve's prepaid insurance as of December 31, 2013?

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

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Definitions:

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Unprocessed Foods

Foods that are consumed in their natural state, without undergoing any chemical processing or modification.

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