The answer to this question is a modified endowment contract. A modified endowment contract or MEC is a type of life insurance policy where in the policy/ insurance is being funded with more money or the insurance premium payment exceeds the amount allowed under the federal law. The modified endowment contracts are taxable.
Answer:
$1,600
Explanation:
Best deals incorporation has a total of 10 units in the ending merchandise inventory on December 31
The units were bought in the month of November at a price of $160 for each unit
The replacement cost of the item is $162
Inventory is always recorded when the cost is low
Therefore, the amount that is to be reported as the merchandise inventory can be calculated as follows
=10 units × $160
= $1,600
Hence the amount reported as the merchandise inventory on the balance sheet is $1,600
People need to have [Purchasing Power] in the economy to be able so spend money. Purchasing power means having the financial ability to spend money in buying goods and services.
Answer:
Task-oriented
Explanation:
Task-oriented leaders focus on getting necessary tasks done to accomplish set objectives. These leaders are concerned with finding step-by-step solutions needed to meet set goals. The leaders will often define the roles required, put structures in place, organise necessary resources, and monitor progress towards accomplishing tasks within the team.
