Which of the Following Is Not a Cash-Value Life Insurance

question 140

Multiple Choice

Which of the following is not a cash-value life insurance plan?

• A) whole life.
• B) universal life.
• C) term life.
• D) variable life.

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Definitions:

Credit Balance

The amount that a company or individual owes to creditors; in accounting, it indicates a balance on the right side of a ledger for liability, revenue, or equity accounts.

Closing Entries

Journal entries made at the end of an accounting period to transfer balances from temporary to permanent accounts.