Which of the following statements about limited-payment life insurance is true?
A) It is a form of term insurance.
B) It matures at the end of the premium-payment period.
C) The premium decreases each year during the premium-payment period.
D) Its use may be appropriate if a person wants paid-up life insurance during retirement.
Answer: D
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Accounts receivable resulting from sales to customers amounted to $40,000 and $31,000 at the beginning and endof the year, respectively. Income reported on the income statement for the year was $120,000 . Exclusive of theeffect of other adjustments, the net cash flows from operating activities to be reported on the statement of cashflows using the indirect method is
a. $120,000 b. $129,000 c. $151,000 d. $111,000
A city of 50,000 or more inhabitants, or an urbanized area of at least 50,000 inhabitants, with adjacent communities having a high degree of economic and social integration with the core community is called a
A. competitive statistical area. B. metropolitan statistical area. C. statistical demographic area. D. trade area. E. metropolitan urban development.
Indicate how each event affects the elements of financial statements. Use the following letters to record your answer in the box shown below each element. You do not need to enter amounts.(Note that "No Effect" means that the event does not effect that element of the financial statements or that the event causes an increase in that element is offset by a decrease in that same element.)Increase = IDecrease = DNo Effect = NABell Co. provided consulting services for $20,000 cash.AssetsLiabilitiesEquityRevenuesExpensesNet IncomeStmt of Cash Flows???????
What will be an ideal response?
Tacit knowledge
A. can be accessed only with the consent of the employees because it is in the minds of the employees. B. can be codified but not reproduced. C. is found mostly at the lower levels of the organization. D. is the same as explicit knowledge.