Questions: 1 Did the employees know of the lost inventory?
2 Why the auditor did not take any action against the insurance company?
3 Was there any conspiracy involved in between the insurance company and the auditor?
4 Why the insurance company did not pay the theft amount?
5 If they did, why didn't they tell more?
6 Were the president of the construction firm and his employees honest? Had they done anything wrong?
7 Could they be sued?
8 Why did the father retire? What was his responsibility?
9 Should the bank's corporate officers go to the police and indie the son on grand theft?
10 The bank received back $100,000 from the theft. Where from?
11. The adjusted premium is important for life insurance companies to calculate, as it is the premium used to figure the minimum cash surrender value (CSV). All life insurance policies are required to calculate a CSV due to the No forfeiture Provision, which means that the life insurance policy always has a value, even when the policy holder chooses not to use it for its original purpose (payout upon death).The CSV is the value that could be received by terminating the policy and choosing to "cash-out.".
Required: Explain the different types of Premium Adjustments.
Information related to above question is enclosed below:
Attachment:- ASGMNT-1-ACCT424-QUESTION.rar