Life insurance policyholders may borrow the cash value from their life insurance policies. Where are life insurance policy loans shown on a life insurance company's financial statements?
A) as an asset
B) as a liability
C) as income
D) as an expense
Answer: A
Business
You might also like to view...
Regarding impairment of intangible assets, which of the following statements is incorrect?
A) Impairment occurs when the fair value of an intangible asset is less than the book value. B) Intangible assets are impaired when there has been a permanent decline in the value of the asset. C) Intangible assets are tested for impairment annually. D) If any impairment occurs, the company records a loss in the period in which the intangible asset was acquired.
Business
Title companies may complete all the documents, including legal ones, for closing.
a. true b. false
Business