Multiple Choice
The Abex Corp. spent $10,000 on a one-year insurance policy, on April 1 of Year 1. How much insurance expense should be recognized by Abex in its December 31, Year 1 income statement?
A) None
B) 2500
C) 5000
D) 7500
E) 10000
Correct Answer:
Verified
Correct Answer:
Verified
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