Using the "Nonworking" Spouse Method,what Should Be the Life Insurance

question 172

Multiple Choice

Using the "nonworking" spouse method,what should be the life insurance needs for a family whose youngest child is 7 years old?

• A)$50,000
• B)$70,000
• C)$90,000
• D)$110,000
• E)$140,000

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Definitions:

Cost of Goods Sold

the direct costs tied to the production of goods sold by a company, including both raw material costs and labor costs.

Net Sales

The total revenue a company earns after deducting returns, allowances for damaged or missing goods, and any discounts allowed.

Nonoperating Income

Income derived from activities not related to a company's core business operations, such as investment income or gains from the sale of assets.

Operating Expenses

Costs related to the day-to-day operations of a business, such as rent, utilities, and payroll.