INSTRUCTIONS: Choose the Word or Phrase in [ ] Which

question 55

Multiple Choice

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.
-The most accurate way to determine how much life insurance you need is to use the [multiple earnings | needs] approach.

• A)for the first item
• B)for the second item
• C)if neither item will correctly complete the statement.

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Definitions:

Indefinite Time

Indefinite Time indicates a period without a specified end date.

Research Costs

Expenditures related to activities undertaken to gain new knowledge or understanding to develop new products, processes, or services; often a significant part of a company's innovation efforts.

Capitalized

In accounting, this term refers to recording an expense or cost as a capital asset on a balance sheet, rather than as an expense on the income statement.

Tangible Asset

Physical assets that can be touched and have a finite monetary value, such as buildings, machinery, and equipment.