In December of 2022, Flower Inc. paid $1,200 cash for a one year insurance policy...
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Accounting
In December of 2022, Flower Inc. paid $1,200 cash for a one year insurance policy tobe used in 2023 and Flower Inc. recorded the transaction correctly. Based only on this situation, which of the following is true for Flower Inc?
A. There would be an insurance expense of $1,200 in 2023
B. Total Assets would increase by $1,200 in 2022
C. Stockholders' Equity would increase by $1,200 in 2022
D. Total Assets would decrease by $1,200 in 2022
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