Answer:
a
Life
Explanation:
Life insurance is a contract where the insurance company undertakes to pay the amount stated in the policy document upon the insured's death. The insured, in turn, pays periodic insurance premiums to keep the contract in force.
Life insurance renders financial protection to the family and the insured upon their death. For an entrepreneur, the insurance company will compensate their family for the loss of income occasioned by their death.
Answer:
$1,140,000
Explanation:
AS AT December 2018, the market price ended at 30 USD Which is 10 USD above pre established price on the 114,000 SARs
thus compensation for the year ended 2018 will be 10 x 114,000
Answer:
The change in operating income for GM is that the operating income will increase by the amount of other pension costs less expected returns.
However, this change will not affect the net income, as all the items will still be accounted for, accordingly.
Explanation:
GM's pension service cost is the present value of the amount that the GM is required by law to set aside annually to meet its employees' pension-benefits obligations. The reason for the separation is that the service cost is a compensation cost, whereas other pension costs are financial costs and not compensation costs. By this separation, the operating income of GM will increase.
The answer is C. “There is a major city 50 miles away from the region”.
Answer:
Statement of retained earnings.
Explanation:
The prior period adjustment refers to the adjustment in which there is an accounting error in the previous period and i.e to be reported in past year period but now it would be corrected in the financial statement. This adjustment we called prior period adjustment
Moreover, it should be reported in the statement of retained earnings
Hence, the second last option is correct
