The term "tax deferral" refers to the ability to pay taxes at a later date on otherwise currently taxable income
Indicate whether the statement is true or false
TRUE
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Pitch, volume, rate, quality, articulation, and other attributes are known as ________.
A. proxemics B. verbal fillers C. spatial cues D. vocal cues
The entry to record amortization of a customer list in the amount of $4,500 is as follows:
a. Amortization (or Selling) Expense . . . . . . . . . . . . . . . . . . . . . . . 4,500 Customer List . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,500 b. Finished Goods Inventory . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,500 Customer List . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,500 c. Work-in-Process Inventory . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,500 Customer List . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,500 d. Amortization (or Selling) Expense . . . . . . . . . . . . . . . . . . . . . . . 4,500 Allowance for Amortization of Customer List . . . . . . . . . . . . . . .. . . . . 4,500 e. Work-in-Process Inventory . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,500 Allowance for Amortization of Customer List . . . . . . . . . . . . . . .. . . . . 4,500
Typically individual stockholders are not held responsible for the actions of a corporation. Exceptions usually relate to comingling of funds, underinsuring, or similar actions by the corporate leadership. This is called:
a. risking liability b. piercing the corporate veil c. the privilege of the stockholders d. free market trading of stocks
Which of the following statements about the insurer's obligation to provide a legal defense under the personal liability coverage (Coverage E) of the homeowners policy is (are) true?
I. The insurer agrees to defend the insured only if the suit is not groundless, false, or fraudulent. II. The insurer's obligation to defend the insured ceases after the amount paid for damages from an occurrence equals the policy limit. A) I only B) II only C) both I and II D) neither I nor II