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Fair Play,Inc

Question 131

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 cash paid for insurance should the company show on its statement of cash flows for the year ended December 31,2011?


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

Correct Answer:

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