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

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Multiple Choice

Under a group life policy, the insurer will issue an individual:

certificate of insurance

endorsement

premium receipt

policy declaration page

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Verified step by step guidance

Step 1: Understand the context of the problem. A group life insurance policy is a type of insurance where coverage is provided to a group of people, typically employees of a company, under a single contract issued to the employer or organization.

Step 2: Clarify the terms provided in the options. For example: 'Certificate of Insurance' is a document provided to individuals covered under a group policy, confirming their coverage. 'Endorsement' refers to a modification or addition to the insurance policy. 'Premium receipt' is proof of payment for the insurance premium. 'Policy declaration page' summarizes the key details of the insurance policy.

Step 3: Identify which document is typically issued to individuals under a group life policy. The insurer provides a document that serves as evidence of coverage for each individual in the group.

Step 4: Compare the options to determine which one aligns with the purpose of confirming individual coverage under a group policy. The 'Certificate of Insurance' is the correct choice because it serves as proof of coverage for individuals.

Step 5: Conclude that the 'Certificate of Insurance' is the document issued to individuals under a group life policy, as it confirms their coverage and provides essential details about the insurance.