What are the advantages of term life insurance?
A) It allows you to increase your insurance coverage for specific reasons and specific time periods.
B) With decreasing term coverage, your premiums get smaller as you get older.
C) It has no investment feature so it costs less than other forms of insurance.
D) All of the above are correct.
E) Only A and C are correct.
Answer: E
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Which one of the following statements is correct concerning the time value of money?
A) The future value of $1 at the end of two years is equal to $1 plus the first year's interest times 1 plus the annual interest rate. B) As the interest rate increases for any given year, the future value interest factor will decrease. C) The future value of $1 decreases with the passage of time. D) The future value interest factor is equal to zero if the interest rate is zero.
The financial statements can be prepared from the trial balance
Indicate whether the statement is true or false