Table of contents

1. Introduction to Accounting1h 21m
2. Transaction Analysis1h 13m
3. Accrual Accounting Concepts2h 38m
4. Merchandising Operations2h 30m
5. Inventory1h 55m
6. Internal Controls and Reporting Cash1h 16m
7. Receivables and Investments3h 8m
8. Long Lived Assets5h 1m
9. Current Liabilities2h 19m
10. Time Value of Money1h 23m
- Time Value of Money Equations
  35m
- Using Time Value of Money Tables
  47m
11. Long Term Liabilities2h 45m
12. Stockholders' Equity2h 15m
13. Statement of Cash Flows2h 24m
14. Financial Statement Analysis5h 25m
15. GAAP vs IFRS56m

1. Introduction to Accounting

Types of Accounting

Financial Accounting

1. Introduction to Accounting

Types of Accounting

Previous problemNext problem

Struggling with Financial Accounting?

Join thousands of students who trust us to help them ace their exams!Watch the first video

Multiple Choice

In the context of increasing term insurance, which component increases over the life of the policy?

Cash surrender value

Policy loan amount

Premium

Death benefit

Previous problemNext problem

Verified step by step guidance

Understand the concept of increasing term insurance: This type of insurance provides a death benefit that increases over the life of the policy, typically to keep up with inflation or other financial needs.

Identify the components of an insurance policy: Common components include the death benefit, cash surrender value, policy loan amount, and premium.

Analyze the cash surrender value: In term insurance, there is generally no cash surrender value because it is a pure protection product without a savings or investment component.

Evaluate the policy loan amount: Policy loans are typically associated with permanent life insurance policies that have a cash value component, not term insurance.

Focus on the death benefit: In increasing term insurance, the death benefit is designed to increase over time, which aligns with the purpose of this type of policy. This is the component that increases over the life of the policy.