Determine whether the following statements are true or false, then mark the appropriate multiple choice answer. Prepaid Insurance and Unearned Revenue are accounts that generally do not need to be adjusted at the end of the accounting period. All accounts must be adjusted at the end of the period. Every adjusting entry will affect both the Income Statement and the Balance Sheet. On November 1, a company paid $6,000 for 6 months of insurance, to cover the period November 1 - April 30. The company's December 31st balance sheet should include Prepaid Insurance of $2,000.a. true, false, true, false
b. false, true, true, false
c. true, false, true, true
d. true, true, true, true