Money

The insured pays a premium for a specified number of years.

The insured is covered during his or her entire lifetime.

The insured pays the premium until his or her death.

The insured can borrow or collect the cash value of the policy.

revenues

liability

owner's equity

All of the above

Accounts Receivable should be credited

Sales Revenue should be debited

Allowance for Doubtful Accounts should be credited

Bad Debt Expense should be credited

identify the alternatives

identify an etical situation and ethical issues involved

weigh the impact of each alternative on various stakeholders.

recognize and analyze the principal elements in the situation.

Identifying→recording→communicating

Identifying→communicating→recording

Communicating→Recording→Identifying

Recording→Communicating→Identifying

Assets

Income

Expenditure

Liabilities

inversely with the price level

directly with the price level

directly with the volume of employment

directly with the interest rate

By investing their earnings back into their original investment

By diversifying their investment portfolio

By selecting a savings account that has a higher interest rate

By transferring their earnings back into high-risk investment