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Which of the Following Is TRUE About Long-Term Care Insurance

question 99

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Which of the following is TRUE about long-term care insurance?

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Definitions:

Accounting Period

A specific period of time covered by accounting records and financial statements, typically a year or a quarter.

Dividends Account

An account in the general ledger that records payouts to shareholders from the company's earnings.

Permanent Account

An account that is not closed at the end of the accounting period and carries its ending balance into the next period, typically including assets, liabilities, and equity accounts.

Dividends Account

An account in the general ledger that records the amount of dividends declared by a company to be paid to shareholders.

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