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Mumz [18]
3 years ago
6

Ordinary life insurance involves policies marketed on an individual basis, on which policyholders receive a lump sum payment at

maturity of the policy.
True/False
Business
1 answer:
Karolina [17]3 years ago
4 0

Answer:

The statement is: False.

Explanation:

Life Insurance is a financial contract that protects an individual's dependents in the case of his or her death. In life, the policy holder makes payments on a regular basis -typically monthly- to be covered and selects who the beneficiaries will be if he or she passes away. The beneficiaries receive a lump sum of payment only in front of that event.

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Maria wants to purchase a new computer and go to the Caribbean for spring break. The computer is priced at $1,299, and the vacat
snow_tiger [21]

Answer:

Maria is writing a cheque of $1299 to purchase computer of $1200.

Here, the role which money plays is Medium of Exchange.

Further Explanation:

Money is anything which is commonly accepted in exchange of goods and services.

Money replaced the Barter system of exchange. Under Barter system, goods are exchanged for goods. This system is challenging as it requires huge effort and time of people to find someone who wants to purchase same thing which other has to offer.

Thus, money refined the system of exchange of goods and services in the economy.

<u>The 4 key functions of money are:-</u>

  • <u>Medium of Exchange:</u> Money is use to purchase goods and services.

People can keep money in hand or they can keep it in their savings or current account. To purchase something using money kept in savings or current account, buyer write cheque in the name of seller and bank is obliged to pay the seller by deducting amount from buyer's bank account.

  • <u>Store of money:</u> Money can be stored for the future.

Future is uncertain and money is the most liquid asset. Therefore, people store money for any future unforeseen future expanse and for future expanses like for higher education or for buying house etc.

People can store money at their homes or banks. In banks, they deposit money in fixed account which gives them interest.

  • <u>Standard of deferred payments:</u> Money can be use to settle future payments.

This function allows people to purchase any good or service in present period and pay in the future period. Thus, money is used for settlement of payments

  • <u>Unit of Account:</u> Money provides a common exchange value.

Every good and service can be expressed in money terms. Thus, money provides a common denominator for every good and service.  

Learn More:

Medium of exchange.

brainly.com/question/9314080  

Key words:

Money, Medium of exchange, Store of value, Unit of account, Standard of deferred payment

7 0
3 years ago
Read 2 more answers
Cutler Corporation is authorized to issue 10,000 shares of common stock. It sells 6,000 shares at $19 per share.
MissTica

Explanation:

here,  D= debit , C= credit

D :Cash (6,000*19) =$114,000

C: Common Stock(6,000*10)= $60,000

C: Excess Capital in par value, Common stock =$54,000

D:Cash (6,000*19)= $114,000

C: Common Stock(6,000*8)= $48,000

C: Excess Capital in stated value, Common stock= $66,000

D: Cash (6,000*19)= $114,000

C: Common Stock(6,000*19)= $114,000

4 0
3 years ago
Whoever answer gets 100
EastWind [94]

Answer:

Thiru Sandeep Saxena, IAS, Additional Chief Secretary to Government, Environment and Forests Department, Government of Tamil Nadu.

7 0
2 years ago
Kimberly has been helping Jonah in preparing his personal income tax forms for a couple of years. Jonah's boss recommended Kimbe
Diano4ka-milaya [45]

Licensed professionals who indulge in preparing financial documents for individuals, organizations and business are called public accountant. Hence, Kimberly would be classified as a public accountant.

  • Based on the description given which involves the various tasks undertaken by Kimberly while working for Jonah, such as preparation of tax income forms and various financial documents.

  • Here, Jonah is Kimberly's client and she will be classified as a public accountant.

Learn more : brainly.com/question/25698053

5 0
2 years ago
Building Big Box is a home improvement store based in Kansas and has been responsible for introducing some of the most innovativ
lara [203]

Answer: Finance

Explanation:

The functional area that will be responsible for securing the necessary funding for the expansion is the finance department.

The finance department refers to the department in an organization which is responsible for funds acquisition, funds management and planning for the expenditures on assets.

Since the company is expanding operations by building another facility in Canada, the finance department will provide the funds.

8 0
2 years ago
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