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3 years ago

Which of the following statements about the waiver-of-premium provision in life insurance is true?

Business

1 answer:

Verdich [7]3 years ago

7 0

Answer:

Correct Answer:

D) The disability must occur before a stated age, such as 65, for premiums to be waived.

Explanation:

In Life insurance, the individual insured against bad events that may likely occur in his or her life through an insurance company. This would led to the company to pay his beneficiary or the individual in question if such event happened.

<em>For waiver-of premium to occur in a life insurance,the disability of the individual must occur before the age of 65 years which is assumed to be the retirement age.</em>

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Mountain High Ice Cream Company transferred $68,000 of accounts receivable to the Prudential Bank. The transfer was made with re

horrorfan [7]

Answer:

Entries are given below

Explanation:

Calculations

Cash = ($68,000 x 90%) - ($68,000 x 2%)

Cash = $61,200 - $1,360

Cash = $59,840

Loss on sale = ($68,000 + $3,800) - ($59,840 +$5,800)

Loss on sale = $71,800 - $65,640

Loss on sale = $6,160

Entries

DEBIT CREDIT

Cash $59,840

Loss on sale $6,160

Receivable from factor $5,800

Recourse liability $3,800

Receivables $68,000

4 0

3 years ago

Marston Manufacturing Company is considering a project that requires an investment in new equipment of $3,600,000, with an addit

Lorico [155]

Answer:

These are the missing multiple choices:

a. $3,780,000, b. $4,212,000, c. $720,000

The correct option is A,$3,780,000

Explanation:

The total cost of Martson's new equipment comprises of the invoice price of the equipment of $3,600,000 plus the cost of installation and shipping costs of $180,000.

The rationale for the shipping and installation is that costs of asset should include costs incurred in bringing the asset to its present location and condition such as installation and shipping costs.

The costs of the assets is $3,780,000($3,600,000+$180,000)

8 0

3 years ago

Christin, the CEO of a national IT manufacturer, was approached by Ultimate Phones, a new company that is marketing a new type o

Monica [59]

Answer:

The correct option is B, bounded rationality

Explanation:

An ethical dilemma occurs when there is a conflict between one's interest and the interest of the organization leaving one with making choices between serving in the interest one the company or feathering one's nest.

Groupthink implies giving credence to the decision of a group over individual's thinking and creativity.

Bounded rationality is theme that was introduced by Herbert Simon which refers to the fact that making a rational decision is sometimes limited to the information at one's disposal as well as one's mental prowess.

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3 years ago

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On December 1, 2019, Ral received advance rental of $27,000 from a tenant for a three-year lease commencing January 1, 2020 to c

adelina 88 [10]

Answer:

Nil

Explanation:

On receipt of the amount, the entries to be posted would be;

Debit cash account $27,000

Credit deferred revenue $27,000

Being entries to recognize cash received in advance for rental income.

As such, no rental income was earned in 2019. Amount to be included in Ral's taxable income for rent revenue is nil.

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3 years ago

The last recession changed the way many companies offer support to people and communities in need. many companies ______________

miskamm [114]

Because of the last recession, many companies decreased financial donations but encouraged their employees to volunteer their times to corporate social initiatives and project.
This way, they can gain the public favor by putting it on their corporate social responsibility.

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3 years ago

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