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Why is the answer $12000? Thank you in advance! r 0/1 pts Question 4 An entity's financial year ends on 30 June 2015. On

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Why is the answer $12000?

Thank you in advance!
r 0/1 pts Question 4 An entity's financial year ends on 30 June 2015. On 1 April 2015 it pays a 12- month insurance premium of $16 000. Under the accrual system of accounting, how much of the premium will be recognised as an asset for the year ended 30 June 2015? $4000 $16 000 O $0 O $12 000

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