The Insurance Expenses Related to Prepaid Insurance Is Properly Classified(Classification) Insurance Transactions are recorded in the Proper Period cutoff) Prepaid Insurance Is properly presented and Disclosed(Presentation and Disclosure Arens, Loebbecke; Auditing, &/E @2000Prentice HalL,IncArens, Loebbecke; Auditing, 8/E ©2000 Prentice Hall, Inc.  The Insurance Expenses Related to Prepaid Insurance Is Properly Classified (Classification)  Insurance Transactions Are Recorded in the Proper Period (Cutoff)  Prepaid Insurance Is Properly Presented and Disclosed (Presentation and Disclosure)