When a cross-purchase plan is funded by life insurance,
A) premiums must be paid by the eldest partner
B) the surviving partner's policy is automatically canceled
C) each partner owns a policy on the lives of each of the other partners
D) the business owns the policies"
Ans: C) each partner owns a policy on the lives of each of the other partners
You might also like to view...
Which of the following is not an internal event?
a. Depreciation b. Using raw materials in the production process c. Dividend declaration and subsequent payment d. All of these are internal transactions.
A person with high cultural sensitivity is likely to
A) regard people from different cultures as pretty much the same. B) be too sensitive to criticism from people from different cultures. C) recognize nuances in customs among cultures. D) overlook nuances in customs among cultures.