Fink Insurance Collected Premiums of $18,000,000 from Its Customers During

question 3

Multiple Choice

Fink Insurance collected premiums of $18,000,000 from its customers during the current year. The adjusted balance in the Unearned premiums account increased from $6 million to $8 million dollars during the year. What is Fink's revenue from earned insurance premiums for the current year?

• A)$10,000,000.
• B)$16,000,000.
• C)$18,000,000.
• D)$20,000,000.

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Definitions:

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Schedule E

A form used by taxpayers in the United States to report income and losses from rental property, royalties, partnerships, S corporations, estates, trusts, and residual interests in REMICs.

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