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3 years ago

The most preferred technique for determining how much life insurance coverage is needed for an individual is:

1 answer:

5 0

<span>In dermining how much life insurance coverage is needed for an individual , you have to consider first, to determine annual income needs of your family if you were to die today. Because you have to consider any lifestyle changes that might happen after te death and include current expenses such as mortgage, rent, groceries, clothing, utility bills, entainment, travel, transportation and child care. Next, you have to subtract available income from annual income needs. Then, determine the principal needed to generate income to be replaced (annual income to be replaced) devided by (rate of return) = amount of principal needed. Next, Add one-time expenses of your survivors will have to pay including funeral expenses. Lastly you have to subtract one-time gains such as the total amount of money or profit that is made from other life insurance policies, assets from selling a business or other payouts.</span>

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Assume that Jack, Hal, and Sophia enter into a valid contract for the sale of the restaurant and for the covenant not to compete

Andrei [34K]

Answer: C. Reformation

Explanation: A non-compete agreement or clause is a legal binding entered into by two or more parties which restricts the parties from being in competition with the other usually through the sale of similar product. However, in the context above, since the non-compete clause has been breached by Jack, and the judge feels the time constraint in the clause was unreasonably long, The reformation process will be best to remediate the situation, which refers to the change or alteration of the terms of an existing document using the judicial process and requires the conformation of the parties involved.

6 0

3 years ago

The accounts in the ledger of Seaside Furniture Company as of August 20Y5 are listed in alphabetical order as follows. All accou

musickatia [10]

Answer:

Cash $426,800.00

Debit side $6,500,000.00

Credit side $6,500,000.00

Explanation:

Preparation of the Unadjusted trial balance

SEASIDE Unadjusted Trial Balance

DEBIT SIDE

Cash 426,800.00

Accounts Receivable 660,500.00

Prepaid Insurance 21,600.00

Supplies 11,200.00

Land 1,850,000.00

Dividends 36,000.00

Wages Expense 2,950,000.00

Utilities Expense 82,000.00

Rent Expense 390,000.00

Supplies Expense 23,700.00

Insurance Expense 18,000.00

Miscellaneous Expense 30,200.00

TOTAL $6,500,000.00

CREDIT SIDE

Notes Payable 75,000.00

Accounts Payable 118,600.00

Unearned rent 12,000.00

Common stock 150,000.00

Retained Earnings 1,814,400.00

Fees Earned 4,330,000.00

TOTAL $6,500,000.00

CASH will be the balancing figure since the total of both Debit and Credit columns of trial balance must equal.

Therefore the Unadjusted trial balance be:

Debit side $6,500,000.00

Credit side $6,500,000.00

8 0

2 years ago

Which of the following is a characteristic of managerial accounting?

Dmitry [639]

Answer: E. All of the above are characteristics of managerial accounting.

Explanation:

Managerial accounting is geared towards analysing accounting data to help management of an organization make decisions. As such it is internal and is seen by company employees.

To help the management, specific management reports are produced from which decisions affecting the company can be made. It is relatively flexible to enable it to suit the demands of the company and as it is for internal use, is not independently audited.

5 0

3 years ago

intelligent industries recently purchased a $50,000, 10% 12-month bond. from intelligent’s point of view, this bond would be con

Paul [167]

from Intelligent’s point of view, this bond would be considered a current asset, because it represents a resource that can easily be converted to cash within one year.

A bond is a debt instrument. A bondholder is entitled to regular predetermined interest rate payments and at the end of the bond's tenure, the bondholder would receive the amount invested.

Current assets are assets that are expected to be sold, used, or exhausted through standard business operations with one year.

Examples of current asset are:

cash
cash equivalents
accounts receivable
stock inventory
marketable securities
pre-paid liabilities

To learn more, please check: brainly.com/question/14287268

5 0

2 years ago

Consider this scenario: After many years, an employee is promoted to a position that has an elevated level of trust with his man

Stels [109]

Answer:

The correct answer is the option B: This employee should be granted access based on his current and past roles only after being formally reviewed for his effectiveness in the company.

Explanation:

To begin with, if the employee has past through several positions before then he must understand quite a bit how the company works in its whole and moreover that employee must be trusted due to the fact of the times that he was promoted and therefore that he must have granted access based on his current and past roles but only after being formally reviewed because of the fact of ensuring the effectiveness of the employee.

4 0

3 years ago