Lynn calculated the future value of the first twenty premiums she will pay under her nonparticipating whole life insurance policy. Then she subtracted the cash value after 20 years
Next, she divided this value by the future value annuity due factor for 20 years to arrive at an annual cost of insurance. Finally, she divided the annual cost by the number of thousands of dollars of life insurance purchased to arrive at the cost per thousand per year. Lynn calculated the
A) traditional net cost per thousand per year.
B) the Linton Yield.
C) the surrender cost per thousand per year.
D) the net payment cost per thousand per year.
Answer: C
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Which statement is not related to statistics associated with cross-tabulation?
A) The statistical significance of the observed association is commonly measured by the chi-square statistic. B) The t test could be conducted on the mean of one sample or two samples of observations. C) Generally, the strength of association is of interest only if the association is statistically significant. D) The strength of association can be measured by the phi correlation coefficient, the contingency coefficient, Cramer's V, and the lambda coefficient.
Gitis, Inc uses the direct method to prepare its statement of cash flows
Use the following information reported for 2017: Sales Revenue, $43,000 Interest Revenue, $600 Accounts Receivable, beginning balance, $13,400 Accounts Receivable, ending balance, $26,000 There were no amounts reported for Interest Receivable. Compute the total cash receipts. A) $26,000 B) $56,400 C) $31,000 D) $13,400
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What will be an ideal response?
Answer the following statements true (T) or false (F)
1. Deferred compensation refers to methods of compensating employees based upon their current service where the benefits are deferred until future periods. 2. If an individual is self-employed, business-related expenses are deductions for AGI. 3. Unreimbursed employee business expenses are deductions for AGI. 4. The key distinguishing factor for classifying a worker as either an employee or self-employed includes the right to control and direct the worker with respect to both the end result and the means to accomplish that end result. 5. An employee travels out of town as required by his job, and he is not reimbursed. The employee can deduct these work-related travel costs.