Sales made and actual cash received may differ for any particular month. However, sales and cash received must be equal for a calendar year
Indicate whether the statement is true or false.
Answer: FALSE
Explanation: There is no need nor expectation that these two values be the same in any particular year.
Business
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Which of the following insurance products protects a lender against a borrower's death prior to repayment of the debt?
A. Credit life. B. Universal life. C. Whole life D. Endowment life. E. Variable life.
Business
The higher the rate used in determining the future value of an annuity,
A) the smaller the future value at the end of the period. B) the greater the future vale at the end of the period. C) the greater the present value at the beginning of the period. D) none of these—the interest rate has no effect on the future value of the annuity.
Business