Multiple Choice
A driver started a business on 1st of January 2018, hiring out his limousine for special occasions. Current regulations require the business to purchase a license that will expire after two years. The cost of the license is $16,000. Calculate the amount of license expense to be included in the income statement for the 6 months ended 30 June 2018.
A) $6,000.
B) $4,000.
C) $3,000.
D) $12,000.
Correct Answer:
Verified
Correct Answer:
Verified
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