Test your Intermediate-level Cash Basis skills in Accounting Principles Standards. This timed assessment evaluates your expertise in Accounting.
Duration: 5 minutes
•40 questions
Time Remaining: 05:00
Progress: 0%
40 questions remaining
Question 1 of 40Assessment
On December 1, a business pays $12,000 for a one-year insurance policy. Using the pure cash basis, what is the insurance expense recognized in December?