Which of the Following Policies Will Not Give You a Cash

question 36

Multiple Choice

Which of the following policies will not give you a cash settlement if you terminate the policy?

• A) Whole life
• B) Universal life
• C) Decreasing term life
• D) Variable life

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Definitions:

Expense Account

An account used to record expenditures incurred by a company, relating to its operational activities.

Supplies

Items used in the day-to-day operations of a business, typically consumable in nature, such as office supplies, cleaning materials, and manufacturing components.

Accounts Payable

Accounts payable are liabilities of a business that represent its obligations to pay off a short-term debt to its creditors or suppliers.

Service Revenue

The income earned by a company for the services it has provided to its customers.