All of the choices are correct. 3 points Entity H purchased a two year insurance policy for $2,400 on February 1, 2024. Entily H initilly rocords pres the yoar? 3 points A new business will purchase equipment to begin. The purchase of equipment is classified as a (an): Financing activity. Non-cash investing and financing activity. Investing activity. Operating activity. Which concept indicates that the life of a business can be divided into artificial segments of time? full disclosure materiality periodicity historical cost 3 points If you were interested in determining how a company performed over the last year and what its largest expense was, which statement would be the most heiptu? retained earnings statement. income statement balance sheet statement of cash flows