When a guarantee exists that a company is entitled to a return equal to the amount of the cash surrender value of the policy, a portion of the premium is recorded to a long term liability account.

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The Answer of When a guarantee exists that a company is entitled to a return equal to the amount of the cash surrender value of the policy, a portion of the premium is recorded to a long term liability account.

When a Guarantee Exists That a Company Is Entitled to a Return