You Probably Have Little or No Need for Life Insurance

question 5

Multiple Choice

You probably have little or no need for life insurance if you are

• A)married and your spouse works.
• B)divorced and have two children.
• C)a single person living alone or with parents.
• D)gainfully employed.
• E)a household with several children.

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Definitions:

Excess Amortizations

Excess Amortizations refer to the amount by which amortization expenses exceed what is deemed necessary or standard for a given period, often adjusting the value of intangible assets.

Intra-Entity Transactions

Transactions occurring between divisions or departments within the same company.

Intra-Entity Gross Profit

The profit realized from transactions within segments of the same company, not reflected in consolidated financial statements until realized externally.

Deferred

Accounting term used to describe revenues or expenses that have been incurred but not yet recorded in accordance with accrual accounting principles.