Which of the Following Statements About Second-To-Die Life Insurance Is

question 2

Multiple Choice

Which of the following statements about second-to-die life insurance is (are) true?
I.The insurance is a form of endowment coverage.
II.The premium is lower than the combined cost of purchasing a life insurance policy on each insured.

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

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Definitions:

Ending Inventory

The worth of merchandise ready for purchase at the close of a financial period, determined by adding purchases to the initial inventory and then subtracting the cost of goods that were sold.

First-In, First-Out Method

An inventory valuation method where the earliest items added to inventory are the first ones considered sold.

Equivalent Units

A measure used in process costing that converts partially completed goods into an equivalent number of fully completed units.

Production Consideration

Factors or aspects taken into account during the manufacturing process, including efficiency, cost, and quality.