<span>A life insurance
policy can either be a participating policy where the policy pays the dividend
or it can be a nonparticipating policy where the policy has guaranteed premiums. About 95% of the U.S. life insurance
companies are stock companies.</span>
Answer:
The correct answer is d) Liaison Officer
Explanation:
The term liaison officer refers to a person who connects organizations in order to communicate the movements that provide mutual performance. Usually, the liaison officers are employed to manage and improve the resources of one organization by another. The liaison officers are used by some governmental agencies, nongovernmental organizations, and private entities.
Answer:
The correct option is C. Recognize $9 million Gross Profit in 2016.
Explanation:
IFRS-15 states that a 4-step approach should be followed when the performance obligation is satisfied over a period of Time. In-this case, the performance obligation will be satisfied within three years from 2016 to 2018.
4-step Approach:
1) First of all you have to calculate the over gain/loss of the project, and the result will decide the entries to be made. In this case, the contract price is $150m and the total costs (Costs incurred + Expected Costs) are $120m. This gives us a Profit of $30m.
2) In the second step, we have to determine the progress of the contract, It means that how much work have we done so far. There are two methods to calculate the progress: Input Method and the Output Method. Based on the data available, we will go for Input Method. To calculate progress under this method, simply divide the costs incurred by the total costs and multiply the result with 100 to get the percentage. 30% is the progress of the contract.
3) Revenue (150 * 30%) = $45m
COS (120 * 30%) = $36m
Gross Profit = $9m
* 120 is the Total Cost.
4) The last step involves determining Contract Assets and Liabilities. I won't go in to the detail because this step is not concerned with your question. You are open to ask questions regarding this step if you need.
Thanks.
Answer:
rationing
Explanation:
Rationing supplies is something that usually happens during wars or natural disasters, it is not normal for it to happen. In the US, food rationing formally ended in 1954, and the last item to be de-rationed was meat. It was only a formality since World War II had ended in 1945, and most items had been de-rationed shortly after the war was over.
Never again has food or any other type of good been rationed in the whole country as part of a national policy.
Yes he should be because people had higher expectations
