Jane purchased a life insurance policy on her own life and named her daughter, Cheryl, as beneficiary
Cheryl has a history of not managing money well. Jane wants the death benefit paid to Cheryl in monthly installments over 20 years. Which settlement option should Jane pre-select for Cheryl?
A) lump sum
B) fixed amount
C) fixed period
D) interest option
Answer: C
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Which internal control is not an important part of the payroll system?
a. Supervisors verify the accuracy of employee time cards. b. Paychecks are distributed by an independent paymaster. c. Accounts payable verifies the accuracy of the payroll register before transferring payroll funds to the general checking accounting. d. General ledger reconciles the labor distribution summary and the payroll disbursement voucher.
The entry to record the purchase of raw materials on account would include a ________.
A) debit to the Raw Materials Inventory account B) debit to the Work-in-Process Inventory account C) credit to the Work-in-Process Inventory account D) credit to the Raw Materials Inventory account
Gage buys from Fishing Guide Corporation the exclusive right to sell Fishing Guide rods and reels in a certain area. Their franchise agreement requires Gage to pay certain administrative expenses. Their agreement may also require Gage to pay a percentage of the franchisor's
A. advertising costs. B. personal expenses. C. retirement income. D. none of the choices.
One method of managing risk is to limit your exposure to a financial loss
Indicate whether the statement is true or false.