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katrin2010 [14]
3 years ago
8

All of the following assets require a title as proof of ownership, except: Group of answer choices Life insurance. Boat. Home. V

ehicle.
Business
1 answer:
bearhunter [10]3 years ago
3 0

Answer:

Life insurance.

Explanation:

A life insurance policy can be defined as a contract between a policyholder and an insurer, in which the insurer agrees to pay an amount of money to a specific beneficiary either upon the death of the insured person (decedent) or after a set period of time.

All of the following assets such as home, boat, vehicle require a title as proof of ownership, except a life insurance because no one person can present a proof to attest to the ownership of their life.

Simply stated, a life of an individual is abstract and as such can not be quantified or qualified by any document as a proof to be presented to another person or business entity. Thus, a life insurance cannot be used as a collateral to obtain credits or loans from a financial institution or investors.

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this is the federal banking system of USA

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B. Avoid gossip
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Heavy​ Products, Inc. developed standard costs for direct material and direct labor. In​ 2017, AII estimated the following stand
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Answer:

Direct labor efficiency variance= 0

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Giving the following information:

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5 0
3 years ago
On June 10, Blossom Company purchased $7,100 of merchandise from Sunland Company, terms 4/10, n/30. Blossom Company pays the fre
Marysya12 [62]

Answer:

June 10

Dr Inventory $7,100

Cr Accounts payable $7,100

June 11

Dr Inventory $350

Cr Cash $350

June 12

Dr Accounts payable $600

Cr Inventory $600

June 19

Dr Account payable $6,500

Cr Cash $6,240

Cr Inventory $260

Explanation:

Preparation of a separate journal entries for each transaction on the books of Blossom Company.

Books of Blossom Company

June 10

Dr Inventory $7,100

Cr Accounts payable $7,100

June 11

Dr Inventory $350

Cr Cash $350

June 12

Dr Accounts payable $600

Cr Inventory $600

June 19

Dr Account payable $6,500

($7,100-$600)

Cr Cash $6,240

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Cr Inventory $260

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