Answer
11. (b)
Work Step by Step
The cash surrender value of life insurance refers to money offered to the policyholder by the issuer upon cancellation of the life insurance contract and is classified as an investment.
Intermediate Accounting 14th Edition
by Kieso, Donald E.; Weygandt, Jerry J.; Warfield, Terry D.
Published by
Wiley
ISBN 10:
0470587237
ISBN 13:
978-0-47058-723-2
Chapter 5 - Balance Sheet and Statement of Cash Flows - Exercises - Page 282: E5-2(11)
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