Tenth National Bank extended a $2 million loan to ABC Development Company. Tenth National accepted a mortgage on a building as collateral for the loan. The mortgagee's signature on the loan, however, was a forgery
The resulting loss is covered by which financial institution bond coverage?
A) Insuring Agreement A— Fidelity
B) Insuring Agreement D—Forgery or Alteration
C) Insuring Agreement E—Securities
D) Insuring Agreement G—Fraudulent Mortgages
Answer: D
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Bernstein Inc Bernstein Inc is a local retailer. The following selected information is available from their 2011 and 2012 financial statements: Accounts receivable at 12/31/11 $ 160,000 Accounts receivable at 12/31/12 240,000 Inventory at 12/31/11 300,000 Inventory at 12/31/12 360,000 Net credit sales for 2012 3,400,000 Cost of goods sold for 2012 1,980,000 Net income for 2012 1,000,000 Refer to
the Bernstein Inc information above. What was Bernstein's number of days inventory was held before sale in 2012? (round to two decimal places) A) 121.67 days B) 60.83 days C) 120.46 days D) 240.13 days
Businesses use their knowledge of _________ to acquire funding needed for operations and growth, to invest retained earnings and make nonoperating revenues, and to hedge risks.
Fill in the blank(s) with the appropriate word(s).
Polly purchased a Homeowners 3 policy. She has a swing set in the backyard of her home
While her son and the neighbor's child were using the swing set, it collapsed. Both of the children required medical care. Which of the following statements is true? A) The medical expenses Polly's son are covered under the policy. B) The medical expenses of the neighbor's child are covered under the policy. C) If Polly's son sues Polly and wins, the insurer will pay the damage award. D) If the neighbor sues Polly, Polly must pay for the lawyer who defends the suit.
In the following sentences, underline any errors in verbs. Write correct forms in the spaces provided. Be careful that you don’t change the verb tenses. Write C if the sentence is correct.
1. Blogs have became an effective marketing tool for many organizations. 2. Christopher brang his lunch to work on Friday, but he didn’t eat it. 3. After the company had rang up many losses, it filed for bankruptcy. 4. I had already ate most of my lunch when my friend arrived. 5. Luke said he seen very low prices for knockoffs of many Apple devices.