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Lina20 [59]
3 years ago
10

Clayton is asking his life insurance producer about any potential taxation issues related to his $100,000 personal Whole Life po

licy. All of the following are TRUE, except:A. Since his policy is a personal policy, he cannot deduct the premiums he pays for the policyB. Annual increases in the policy's cash value are not taxable at the time they are credited to the policyC. Upon surrender of the policy, he will be taxed on any amount by which the cash value exceeds the cost basis (premiums paid) of the contractD. The interest that he pays on policy loans is tax-deductible
Business
1 answer:
Lesechka [4]3 years ago
6 0

The following are TRUE, except : The interest that he pays on policy loans is tax-deductible

Explanation:

Lifelong insurance is indeed a life insurance policy that is intended to remain in effect for the lifetime of the Insured, provided that the necessary premiums are reimbursed or on the maturity date (throughout the Commonwealth of Nation-states) and sometimes referred to as ' straight house ' or ' ordinary life'

A complete life policy offers your entire lifetime a certain amount of coverage. Once you pay the premiums, the profit will be earned on your death by your survivor. The entire policy on life always generates' cash value' as part of the money spent. The cash value can be reached as the funds rise.

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5. Describe what causes a change in demand.
Misha Larkins [42]

Answer: A change in demand describes a shift in consumer desire to purchase a particular good or service, irrespective of a variation in its price. The change could be triggered by a shift in income levels, consumer tastes, or a different price being charged for a related product.

Explanation: mark me brainly please

3 0
2 years ago
Suppose there is an increase in the number of buyers of cars and an increase in the cost of manufacturing cars. The basic graphi
xenn [34]

Option C. Suppose there is an increase in the number of buyers of cars and an increase in the cost of manufacturing cars. The basic graphing model of supply and demand predicts:  the equilibrium price of cars will increase, but the impact on the equilibrium quantity of cars cannot be determined without additional information

<h3>What is demand?</h3>

This is the term that is used to refer to the number of people that are willing to buy a product at a given wage rate.

When there is a rise in the demand of cars, there would be a rise in rhe equilibrium price of the cars.

Complete question

Suppose there is an increase in the number of buyers of cars and an increase in the cost of manufacturing cars. The basic graphing model of supply and demand predicts:

A. The equilibrium, quantity of cars will decrease, but the impact on the equilibrium price of cars cannot be determined without additional information

B. The equilibrium quantity of cars will increase, but the impact on the equilibrium price of cars cannot be determined without additional information.

C. the equilibrium price of cars will increase, but the impact on the equilibrium quantity of cars cannot be determined without additional information

D. the equilibrium price of cars will decrease, but the impact on the equilibrium quantity of cars cannot be determined without additional information

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5 0
1 year ago
Coffee beans are an input in the production of coffee. Coffee in turn is a complement to pie. an increase in the price of coffee
AleksandrR [38]

An increase in the price of coffee beans can be expected to increase the demand for pie.

So, in the market if the price of coffee beans increases, quantity demanded for coffee will decrease. As, the coffee in turn is a complement to pie the consumers using coffee will now shift themselves to pie, unless the price decreases for coffee. Thus, the demand for pie is expected to increase now.

Several events could lead to such a change, an increase in  population , an increase in incomes, or an increase in the price likely to increase the quantity of coffee demanded at each price.

Hence, this represents the Law of Demand.

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3 0
2 years ago
(Appendix 11.1) Depreciation for Financial Statements and Income Tax Purposes Dinkle Company purchased equipment for $50,000. Th
Romashka-Z-Leto [24]

Answer and Explanation:

The computation is shown below:

For year 1

According to the Company's Books Depreciation

= (Orginal Cost - Salvage value) ÷ useful Life

= ($50,000 - $5,000)  ÷ 10 years

= $4,500

According to the Income Tax Depreciation

= Cost × MACRS Rate for Year 1

= $50,000  × 20%

= $10,000

So, the difference in year 1 is

= $10,000 - $4,500

= $5,500

For year 2

According to the Company's Books Depreciation

= (Orginal Cost - Salvage value) ÷ useful Life

= ($50,000 - $5,000)  ÷ 10 years

= $4,500

According to the Income Tax Depreciation

= Cost × MACRS Rate for Year 2

= $50,000  × 32%

= $16,000

So, the difference in year 1 is

= $16,000 - $4,500

= $11,500

7 0
3 years ago
For the population of firms in the chemical industry, let rd denote annual expenditures on research and development, and let sal
Dmitry_Shevchenko [17]

Answer:

See the attached pictures for detailed answer.

Explanation:

See the attached pictures for explanation.

6 0
3 years ago
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