Question 14 . Question : The length of time covered by a set of periodic financial statements is referred to as the :
Fiscal cycle Natural business year Accounting period Business cycle Operating cycle
Question 15 . Question : On April 30 , 2011 , a three-year insurance policy was purchased for $ 18,000 with coverage to begin immediately . What is the amount of insurance expense that would appear on the company ' s income statement for the year ended December 31 , 2011 ?
$ 500 $ 4,000 $ 6,000 $ 14,000 $ 18,000
Question 14 . Question : The length of time covered by a set of periodic financial statements is referred to as the :
Fiscal cycle Natural business year Accounting period Business cycle Operating cycle
Question 15 . Question : On April 30 , 2011 , a three-year insurance policy was purchased for $ 18,000 with coverage to begin immediately . What is the amount of insurance expense that would appear on the company ' s income statement for the year ended December 31 , 2011 ?