___________________ ___________ is a processeffected by an entity's board of directors, management, and other personneldesigned to provide reasonable assurance regarding the achievement of objectives such as: effectiveness and efficiency of operations, reliability of reporting, and compliance with applicable laws and regulations.
Fill in the blank(s) with correct word
Question 2
Clean Sweep, Inc. paid 7,200 on May 1, 2011 for 12 months' insurance coverage starting May 1. How much insurance expense should appear on the company's balance sheet at December 31, 2011?
A) 7,200
B) 4,200
C) 4,800
D) 0. Insurance expense does not appear on the balance sheet.
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