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3 years ago

Which of the following statements are TRUE with regard to variable annuities?

Business

1 answer:

patriot [66]3 years ago

3 0

Answer:

(B) I and III

Explanation:

The variable annuity contract allows the investor tho make monthly payment for retirement in two pahses. First it will accumulate on his accounts by mading monthly deposits to yield a return on the fund, stocks or bonds. Then, the investor at retirement age enter the second phase. At which receives payouts from his deposists and earnings.

Therefore, the owner caccounts fluctuate during accumulation period as is ncreaseing or decreasing based on the investment made.

Finally, like all contract is subject to federal and state authority.

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What is the periodicity assumption?a. None of theseb. Companies should match expenses with revenuesc. Companies should recognize

Misha Larkins [42]

Answer: The economic life of a business can be divided into artificial time periods.

Explanation: As per the principal of continuity the existence of a company is perpetual thus to report the performance of the company to the stakeholders the existence of such company is divided into smaller periods and this method is termed as periodicity assumption.

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3 years ago

Store design provides _____ by offering customers an entertaining and enjoyable shopping experience.

NikAS [45]

Store design provides fixtures by offering customers an entertaining and enjoyable shopping experience.

A customer is a recipient of goods, services, products, or ideas obtained from a vendor, vendor, or supplier through financial transactions or in exchange for money or other value consideration.

The definition of customer is a person who purchases products or services from a store, restaurant, or other retail outlet. An example of a customer is someone who goes to an electronics store and buys a television. (informal) A person, especially a person, who interacts with others in some way.

A customer is an individual or business that purchases goods or services from another business.

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3 0

1 year ago

As of December 31, 2017, Armani Company’s financial records show the following items and amounts. Cash $ 10,000 Accounts receiva

Lelechka [254]

Answer:

December 31, 2017 Balance Sheet

$10,000 Cash

$9,000 Accounts Receivable

$6,000 Supplies

$25,000 TOTAL CURRENT ASSETS

$5,000 Equipment

$5,000 TOTAL NONCURRENT ASSETS

$30,000 TOTAL ASSETS

$23,000 Accounts Payable

$23,000 TOTAL CURRENT LIABILITIES

$23,000 TOTAL LIABILITIES

$1,000 Retained Earnings

$6,000 Capital

$7,000 TOTAL EQUITY

$30,000 TOTAL EQUITY + LIABILITIES

Explanation:

December 31, 2017 Balance Sheet

$10,000 Cash

$9,000 Accounts Receivable

$6,000 Supplies

$25,000 TOTAL CURRENT ASSETS

$5,000 Equipment

$5,000 TOTAL NONCURRENT ASSETS

$30,000 TOTAL ASSETS

$23,000 Accounts Payable

$23,000 TOTAL CURRENT LIABILITIES

$23,000 TOTAL LIABILITIES

$1,000 Retained Earnings

$6,000 Capital

$7,000 TOTAL EQUITY

$30,000 TOTAL EQUITY + LIABILITIES

Income Statement

Consulting Revenue $33,000

Rental Revenue $22,000

Salaries Expenses -$20,000

Rent Expenses -$12,000

Selling and Adm Exp -$8,000

Income Statement $15,000

Retained Earnings Report

Opening retained earnings $ 0,000

Add: Net Income $ 15,000

Subtotal $ 15,000

Less: Withdrawals -$ 13,000

Less: Investment -$ 1,000

Total $ 1,000

8 0

3 years ago

LF Corporation, a manufacturer of Mexican foods, contracted in 2014 to purchase 1,500 pounds of a spice mixture at $5.00 per pou

kramer

Answer:

(b) a loss of $750

Explanation:

Given;

Amount of spice mixture to be purchased = 1500 pounds

Price of spice mixture in 2014 = $5.00 per pound

Changed price of sugar mixture = $4.50 per pound

Now,

The amount to be received on the day of contract in 2014

= Amount of spice mixture to be purchased × Price of spice mixture in 2014

= 1500 × $5.00

= $7,500

and,

The amount to be received in 2015

= Amount of spice mixture to be purchased × Price of spice mixture in 2015

= 1500 × $4.50

= $6,750

The difference in Expected amount and the amount to be received

= $7500 - $6750

= $750

Since the amount to be received is less than the expected amount on the day of contract

Therefore,

a loss will be recognized

Hence,

the correct answer is option (b) a loss of $750

5 0

4 years ago

A temporary work authority is granted and valid up to ________ days after being issued.

Marat540 [252]

A temporary work authority is granted and valid up to<u> 60 </u>days after being issued.

Ultimate Work Authority (UWA) means the authority assigned to an individual or position to make final decisions regarding the activities and operations of a facility.

Stop Work Authority program is a safety-based process. Give employees permission to stop work in situations that could lead to accidents or injuries. For example, an employee may stop working if Dangerous conditions. An unsafe action occurs.

A Stop Work Authority (SWA) is best viewed as a safety policy or procedure that empowers and empowers employees to stop actions or conditions they deem unsafe. The goal of such a plan is to encourage employees to speak up when they see a potentially vulnerable situation looming, without fear of reprisal.

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2 years ago