The clause in a life insurance policy that permits an insured to pay the premium after the due date is the
a. coinsurance clause.
b. grace period clause.
c. nonforfeiture clause.
d. insurable interest clause.
B
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The Gopher Company's transactions during 2018 included the following: Paid cash dividends of $1,200,000Paid cash toward reducing a long-term note payable $900,000Issued common stock in exchange for a building $750,000Paid cash for bond interest $50,000Bond discount amortization was recorded for $2,250Issued preferred stock for cash $250,000Sold a long-term stock investment with a book value of $79,000 for $123,000 cashSold equipment with a book value of $90,000 for cash. The sale resulted in a $15,000 loss.Issued bonds with a maturity value of $2,000,000 in exchange for $1,950,000 cashRequired: Determine the net cash flow from investing activities for 2018.Determine the net cash flow from financing activities for 2018.
What will be an ideal response?
Which assertions may be tested for the "account balances" category of management assertions?
A. Occurrence, accuracy, rights and obligations, completeness. B. Existence, cutoff, rights and obligations, completeness. C. Existence, rights and obligations, completeness, accuracy, valuation, allocation, and classification. D. Occurrence, rights and obligations, completeness, valuation and allocation.
Carrying value is computed annually when a bond is issued for other than its face value. For a bond issued at a discount, how will this component change as the bond approaches maturity?
a. decrease b. increase c. remain constant d. not enough information given to decide
Throughout Christianity, divine and natural laws have been issued in the form of ________
A) edicts B) conventions C) adjurations D) canons