QUESTION 2 The residual interest, or net assets is: OA Net Income OB. Owner's Equity OC. Owner's Drawings OD. Net Loss QUESTION 3 Ali Tools Inc. purchased a 12-month insurance policy on March 1, 2016 for AED 900. At March 31, 2016, the adjusting journal entry to record expiration of this asset will include OA. Debit to Insurance Expense and a credit to Cash for AED75. B. Debit to Prepaid Insurance and a credit to Insurance Expense for AED100 OC. Debit to Insurance Expense and a credit to Prepaid Insurance for AED75 OD. Debit to Prepaid Insurance and a credit to Cash for AED900