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Paige Turner Publishing Paid Cash in Advance for a One

Question 54

Multiple Choice

Paige Turner Publishing paid cash in advance for a one year insurance policy.According to the matching principle,Paige Turner Publishing should recognize the policy as insurance expense


A) at the time the cash is paid.
B) after the one year policy has expired.
C) in equal installments over the one year policy period,as the expense is incurred.
D) in two equal installments,six months apart.

Correct Answer:

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