Stan and Heidi Are Married and Both Have Careers in Business

question 174

Multiple Choice

Stan and Heidi are married and both have careers in business. If one of the two were to die, there would be a sudden drop in income. To provide protection from this risk the couple should purchase:

• A) disability insurance.
• B) life insurance.
• C) health insurance.
• D) car insurance.

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Definitions:

Communicating Objectives

The process of clearly and effectively sharing goals and targets with relevant stakeholders or team members.

Ending Inventory

The total value of all inventory still available for sale at the end of an accounting period, calculated by adding new purchases to beginning inventory and subtracting the cost of goods sold.

Ethical Budgeting

The practice of creating budgets that reflect moral principles and considerations, ensuring resources are allocated in a fair and responsible manner.

Fudge Factor

An additional amount or adjustment made to an estimate to account for potential error or uncertainty.