Answer:
1- Increasing
Explanation:
Term insurance is kind of a life insurance which during a specified term promises payment in case of death and when that specified term comes to an end it can be renewed (renewable term), terminated or made permanent. There are three types of term insurances.
- Renewable
- Decreasing
- Level
There is no such policy as Increasing under term insurances.
Under renewable term insurance the insurer can renew on a yearly basis without specifying specific term.
Under decreasing term insurance the insurer pays a fixed amount for the duration of the policy. The coverage of this life insurance policy declines at a predetermined rate over the life of the policy that's why the name decreasing.
Under Level term insurance the insurer also pays a fixed amount and policies under this insurance type cover a period, mostly between ten to thirty years.
Answer:
ALTERNATIVE 1 $30,000
ALTERNATIVE 2 $28,000
ALTERNATIVE 3 $33,000
Explanation:
Calculation for the incremental income
ALTERNATIVE 1 Sell as it is
Incremental revenue $30,000
(5,000*$6)
Incremental costs $0
Incremental Income $30,000
ALTERNATIVE 2 Disassemble and sell to recycler
Incremental revenue $60,000
(5,000*$12)
Incremental costs $32,000
Incremental Income $28,000
ALTERNATIVE3 Rework and turn into good jackets
Incremental revenue $135,000
(3,000*$45)
Incremental costs $102,000
Incremental Income $33,000
Therefore based on the above calculation the company should choose ALTERNATIVE 3 of the amount of $33,000
Because they are always converted to an income summary throughout the closing process, revenue and expense accounts are known as nominal accounts.
so the statement is false
Revenue Definition:
Revenue in financial accounting refers to an inflow of funds, typically from sales or services provided by commercial activity. It is also known as sales or business turnover. In other terms, revenue refers to the amount of money that a company or organization receives. For instance, certain businesses may receive income from royalties, interest, or copyright fees. While for some businesses, money may come from the services they provide to clients. Donations from groups, corporations, and people are referred to as revenue for non-profit organizations.
Operating Revenue Examples:
- Sales.
- Fees or Commission Earned.
- Service Revenues.
Expenses Definition:
A money outflow is known as an expense or expenditure in financial accounting. As an illustration, a tenant's expenses can include rent. Parents' expenses could include the cost of their children's tuition. Expenses for a business include things like electricity bills, bank fees, sales expenses, phone bills, repairs, and services.
List of expenses in accounts frequently observed when preparing financial statements:
- Cost of goods sold.
- Legal fees.
- Depreciation.
Learn more about Revenue and expense accounts here
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Answer:
A written message in business or diplomacy.
Explanation:
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