Which insurance is known for having a level premium with a fixed rate of return resulting in guaranteed cash value?

A. Adjustable life
B. Whole life
C. Variable life
D. Universal life

Ans: B. Whole life

Business

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The most appropriate definition of a balance sheet is that it is a statement that shows

A) a balance between one's goals and resources available to achieve them. B) a realistic balance between income and expenses for an upcoming period. C) your wealth (net worth) as of a specific date. D) how to balance your financial books of account.

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The master budget worksheet shows

A) forecasted income and expenses for the budget year. B) month-to-month budget variances. C) a reconciliation of this year's budget to last year's balance sheet. D) all balance sheet and income statement accounts that relate to the annual budget.

Business