Question

Recall that at the beginning of July, the company paid $6,000 for a one-year insurance policy. What should we do for this?

Answer 1

The company paid $6,000 for a one-year insurance policy, which provides financial protection against potential risks and losses.

Step-by-step explanation:

In this question, we are dealing with insurance policies. The company paid $6,000 for a one-year insurance policy. This means that the company has coverage for a period of one year, starting from the date of purchase. Insurance policies provide financial protection against potential risks and losses, so the company is now protected for any future accidents or damages that may occur.