What is the adjusting journal entry to update the Prepaid Insurance account?

A) Debit Insurance Expense
Credit Prepaid Insurance

B) Debit Prepaid insurance
Credit Insurance Expense

C) Debit prepaid Insurance
Credit Income Summary

D) Debit Income Summary
Credit Prepaid Insurance

the correct journal entry to be recorded when the prepaid insurance payment is realized is,

A) Debit Insurance Expense

Credit Prepaid Insurance

Explanation:

prepaid insurance is an asset to the company, which means that we have paid in advance. because of this, when we pay it in advance, the entry will be

"prepaid insurance debit

money/bank         credit"

this asset was created because the payment we made for the insurance does not belong to this accounting time period and it belongs to the next accounting period. matching concept is the underlying concept behind this.

once we reach the next time period, the prepaid expense becomes a actual cost and the asset is decreased.  

multiculturalism is a particular subject of debate in certain european nations that are associated with the idea of a single nation within their country. critics of multiculturalism may argue against cultural integration of different ethnic and cultural groups to the existing laws and values of the country.

so yes, multiculturalism can (and usually does) result in the host country/continent losing its culture, identity and linguistics, especially due to the raw numbers of demographic transitions.

explanation: