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3 years ago

Which statement does not accurately describe a characteristic of cash value for whole life insurance?

1 answer:

3 0

If this question has the same list of choices as the ones posted before, the statement that does not accurately describe a characteristic of cash value for whole life insurance is:
"<span>Policy that accumulates cash value is less expensive than a policy that does not accumulate cash value."</span>

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The trial balance of Woods Company includes the following balance sheet accounts. Identify the accounts that might require adjus

White raven [17]

Answer:

Woods Company

Accounts Requiring Adjustment, Type of Adjusting Entry, and the Related Account:

Account Type of Adjustment Related Account

a) Account receivable Accrued revenue Service revenue

b) Prepaid insurance Prepaid expense Insurance expense

c) Equipment Not required Not required

d) Accumulated depreciation Accrued expense Depreciation expense

e) Notes Payable Not required Not required

f) Interest Payable Accrued expense Interest expense

g) Unearned service revenue Unearned revenue Service revenue

Explanation:

End of period adjustments are made to accounts in order to bring them in line with the accrual concept and matching principle of accounting. These principles require that expenses and revenues for the period are matched in order to determine the appropriate profit generated for the period. The implication is that transactions are recorded when they are incurred and not when cash is exchanged. For example, if rent expense is incurred for the year and payment is made in the following year, the expense must be recognized in the current year. The same applies to revenue.

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3 years ago

A company might conduct full-scale practice drills, including closing a building and working from a remote location, in order to

ddd [48]

TRUE. A company might conduct full-scale practice drills, including closing a building and working from a remote location, in order to test its contingency plans

3 0

3 years ago

Spade and Marcher Corp. manufactures and sells toy guns. These toy guns are a perfect imitation of real weapons. Inspired by Spa

VMariaS [17]

Answer:

analyzer

Explanation:

This strategy is used by companies wishing to gain market share. It is a moderate aggressive strategy, as it presents low aggregate risks, and innovation is not a very relevant factor in companies that use the analyzer strategy. Companies seek to provide a production of goods already in the market, with modifications and differentiations.

3 0

3 years ago

A PPO uses a discount on charge arrangement. Marie incurred total charges by a hospital of $20 comma 300, and the percentage p

Radda [10]

Answer:

$2,842

Explanation:

total amount that the PPO will pay = $20,300 x 70% = $14,210

Marie has to pay 20% of that amount = $14,210 x 20% = $2,842

A preferred provider organization (PPO) is a type of healthcare insurance that provides discounts if you use their network physicians and providers. In this case, Marie received a 30% for going to that hospital.

8 0

3 years ago

Crane Company incurs the following costs to produce 8500 units of a subcomponent: Direct materials $7140 Direct labor 9605 Varia

Temka [501]

Answer: Net income would increase by $6,230

Explanation:

Cost if offer is not accepted and Crane produces inhouse;

= 7,140 + 9,605 + 10,710 + 16,200

= $43,655

Cost if Crane accepts offer;

Crane could avoid $3,000 of fixed overhead = 16,200 - 3,000 = $13,200

Purchase price = 2.85 * 8,500 units = $24,225

Total cost = 24,225 + 13,200

= $37,425

Difference = 43,655 - 37,425

= $6,230

<em>Income would increase by $6,230.</em>

3 0

3 years ago