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notka56 [123]
4 years ago
14

"If a taxable event occurs regarding the cash value of a permanent life insurance" policy, in virtually every case, the taxable

amount is taxed as:__________.
Business
1 answer:
just olya [345]4 years ago
8 0

Answer:

ordinary income.

Explanation:

Life insurance death proceeds are generally tax free, I guess once you die you stop paying taxes, but your beneficiaries will also not pay taxes in case of death.

But generally all other events that affect the cash value of a permanent life insurance are taxed as ordinary income. The policy cost basis is the total amount paid in premiums. E.g. if the policy is surrendered for its cash value, and that value exceeds the premiums paid, the excess is taxed as ordinary income.

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Alexander is a consultant at a finance company. Other employees approach him for help in all types of stressful situations. He a
masha68 [24]

Answer:

The correct answer is (C)

Explanation:

Emotionally stable individuals love to help and support other people. They love helping their companions succeed. They are the ones who try to stop negative grapevine and try to solve everyone's problems. Emotionally stable people such as Alexander are conscientious, so they do their work perfectly. They are intelligent enough to understand that by being related to other fruitful individuals, they will likewise succeed.

3 0
3 years ago
To maintain your car, every week you should check the __________
vredina [299]
Oil level, tire presseure

7 0
4 years ago
Read 2 more answers
Google provides a 1 year warranty on its cell phones. At the end of 2019 Google estimates they will spend $2m in 2020 to repair/
DochEvi [55]

Answer:

DR Warranty Payable $1.9m; CR Cash $1.9m.

Explanation:

When a company creates a payable it is obligated to pay a certain amount within a particular period.

In this case Google provides a 1 year warranty on its cell phones, so any claims that will attract repair or replacement is a payable obligation.

In the year 2019 they actually paid $1.9 million for repairs and replacements.

So the journal entry to be passed is DR Warranty Payable $1.9m; CR Cash $1.9m.

8 0
3 years ago
In the short​ run, a firm in monopolistic competition​ ______. A. incurs an economic loss B. breaks even C. makes its output and
Dmitrij [34]

Answer:

D. always makes an economic profit

Explanation:

A monopolistically competitive markets consists of firms that sell differentiated products. In the market, there are free entry and free exist, but each firm enjoys a kind of monopoly its products which are the same to other products in the market but are different as a result of branding.

In the short run, the monopoly enjoys on the differentiated product enables the monopolistically competitive firm to make an economic profit. But due to free entry and exist in the market, the firm economic profit will be zero while it only make normal profit.

8 0
4 years ago
Feedback is important in improving your performance, and we should solicit feedback, and not just wait until someone provides us
Serhud [2]

Answer:

The given statement is "True".

Explanation:

  • Feedback would be a significant aspect in improving the accomplishment or organization's success.
  • Requesting or waiting for such feedback might contribute to less and less input, although the organization must request for input, this same person might communicate with the organization by requesting comments.

Thus the above is the correct answer.

8 0
3 years ago
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