Which of the following statements about disability and disability income insurance is (are) true?
I. Most disability income policies replace 100 percent of gross earnings.
II. The probability of being disabled before age 65 is much higher than commonly believed.
A) I only
B) II only
C) both I and II
D) neither I nor II
Answer: B
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a. Deferred Revenue b. Accrued Asset c. Deferred Liability d. None of the Above
Which of the following is the name of a form providing standard quantities of inputs required to produce a unit of output and the standard prices for the inputs?
A. Master budget B. Variance account C. Standard cost sheet D. Static budget
A(n) __________ is a third party who obtains possible benefits but no rights under a contract
a. incidental beneficiary b. intended beneficiary c. assignor d. donee beneficiary
Television sets that Walmart owns for selling to its customers are classified as
A. equipment. B. machinery. C. receivables. D. merchandise inventory. E. prepaid merchandise.