Answer:
b. $1,000,000, because Tiffany had insurable interest in Saul's life when the policy was purchased.
Explanation:
The correct answer is - b. $1,000,000, because Tiffany had insurable interest in Saul's life when the policy was purchased.
Answer:
Life estate.
Explanation:
Since the property will only be enjoyed for the rest of Ashton's life and should be passed to Andrea's (the original owner) great grandchildren, Arden and Allen, such interest is termed life estate.
Life estate is the ownership of a land and/or the property on the land for the period of the person's life, therefore it is of limited duration. This estates is terminated by the death of the owner which is then returned to the original owner or be passed to another person(s) as the case of Andrea. Also, he can let this property out for a short term but cannot sell it.
Answer:
Teddy's opportunity cost of <u>leisure</u> has risen and because for Teddy the substitution effect of the wage hike is <u>greater</u> than the income effect.
Explanation:
Wage rate is considered as the opportunity cost of leisure.
Along these lines, increment in wage rate infers an expansion in circumstance cost of recreation.
In the event that a laborer works progressively after pay increment, at that point replacement impact of compensation increment overwhelms or is more prominent than salary impact of pay increment and the other way around.
Answer: 3500
Explanation:
The company would report net cash provided by (used in) financing activities based on the following:
Cash proceeds from bank loan 9,800
Less: Cash dividends paid to stockholders 3,600
Less: Cash payment (principal) on bank loan 2,700
Cash flow on financing activity will now be:
= (9800 - 3600 - 2700)
= 9800 - 6300
= 3500
Therefore, the The company would report net cash provided by (used in) financing activities of 3500
Answer:
Accrual basis of accounting
Explanation:
As we know that the income statement only reports the total expenses incurred and total revenues generated in a given period of time.
This accounting basis refers to the reporting of the transactions when they are earned or incurred instead of received or paid.
In this, it also follows the matching principle that stated the expenses should be matched with the revenues of the same period.