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

The Financial Statements

Financial Accounting

1. Introduction to Accounting

The Financial Statements

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Multiple Choice

Which of the following annuity payout options makes no additional payments regardless of when the annuitant dies?

Life annuity with period certain

Refund annuity

Straight life annuity

Joint and survivor annuity

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Verified step by step guidance

Understand the concept of a straight life annuity: A straight life annuity provides payments to the annuitant for their lifetime, but stops making payments immediately upon the annuitant's death, regardless of how soon that occurs.

Compare the straight life annuity to other options: For example, a life annuity with period certain guarantees payments for a specific period even if the annuitant dies, and a refund annuity ensures that the total payments equal the initial investment. A joint and survivor annuity continues payments to a surviving beneficiary after the annuitant's death.

Identify the key characteristic of the straight life annuity: It does not provide any additional payments after the annuitant's death, making it unique among the options listed.

Recognize why the straight life annuity is the correct answer: The question specifically asks for the option that makes no additional payments regardless of when the annuitant dies, which aligns with the definition of a straight life annuity.

Conclude that the straight life annuity is the correct choice based on its defining feature of ceasing payments upon the annuitant's death without any further obligations.