On July 1, a company paid the $3,360 premium on a one-year insurance policy with benefits beginning on that date. What will be the insurance expense on the annual income statement for the first year ended December 31

$1,680

Explanation:

Based On the information given if on July 1 the company paid the amount of $3360 as a premium on a year insurance policy which as well include benefits beginning on that date, What will be the insurance expenses on the annual income statement for the first year ended December is $1,680 Calculated as:

Insurance expenses=6/12*$3360

Insurance expenses=$1,680

Therefore What will be the insurance expenses on the annual income statement for the first year ended December is $1,680

what

explanation:

being born in poverty would limit the people's chances, opportunities and benefits.

this happen because of several things, such as:

- poor people tend to gain less access to good education and nutrition. this mean that their chance to obtain high paying jobs would also be limited.

- poor people tend to socialize with other poor people while the rich tend to socialize with other rich people. this means that simply throguh their social circle, rich people would have more business opportunities compared to the poor people.

- rich people tend to have more capital in their disposal. this would benefit them in business since it is far easier for them to fund their business operation compared to poor people.