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Fair Play,Inc

Question 70

Multiple Choice

Fair Play,Inc.paid $3,600 on September 1,2011 for an 18-month insurance policy beginning on that day.The company recorded the entire amount as prepaid insurance.How much insurance expense should the company show on its income statement for the year ended December 31,2011?


A) $200
B) $600
C) $800
D) $3,600

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