Which of the Following Statements Is (Are)true with Respect to Variable

question 36

Multiple Choice

Which of the following statements is (are) true with respect to variable annuities?
I.The price at which accumulation units can be purchased fluctuates during the funding period.
II.The value of annuity units fluctuates over time.

• A)I only
• B)II only
• C)both I and II
• D)neither I nor II

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Definitions:

LIFO Method

Last-In, First-Out method; an inventory valuation technique where the goods or materials purchased last are assumed to be the first ones used or sold.

Cost of Goods Sold

The total cost associated with making or buying the goods that a company has sold during a particular period.

Journal Entry

A record in accounting that notes the debit and credit transactions affecting the financial statements.

Interim Financial Report

A financial statement reported for a period shorter than the fiscal year, typically quarterly, providing an update on a company's financial performance and position.