A disadvantage of using a whole life policy for saving is:
A) earnings outside the policy can be greater
B) federal income tax must be paid on the yearly cash value increases
C) creditor protection is available if bankruptcy occurs
D) since premiums must be paid to keep the policy in force, there is the semi-compulsory nature of saving
A
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The journal entry for accrued interest on a note payable includes
a. crediting Interest Expense. b. debiting Accrued Interest Receivable and crediting Interest Revenue. c. debiting Accrued Interest Payable and crediting Interest Expense. d. debiting Interest Expense and crediting Accrued Interest Payable.
Sea Cruise Equipment Company has several divisions that are investment centers. Data for the Boat Division and the Trailer Division are shown here:
With regard to the efficient use of assets, the Boat Division has a higher return on investment (ROI) because it has the highest operating income.
Which of the following is NOT as asset of a bank?
A routine complaint letter requires an attention-getting opener and more evidence than a persuasive claim letter
Indicate whether the statement is true or false