Pro-rata reinsurance determines the reinsurer's share of losses in a different manner than excess of loss reinsurance
Indicate whether the statement is true or false
TRUE
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Which of the following is a benefit of planning?
A. Planning allows you to spend little time preparing for the future. B. Planning allows you to make all decisions without consulting superiors. C. Planning helps you compare your results to your competitors'. D. Planning helps the company to be spontaneous. E. Planning helps you cope with uncertainty.
Salvage value is
a. also called depreciable cost; b. part of accumulated depreciation; c. shown on the balance sheet as a contra-asset; d. an expense when the asset is sold; e. none of these.
In a guaranty situation, there is only one contract among three parties
Indicate whether the statement is true or false
Ms. Jorland is a 30-year old single taxpayer. Her $3,760 AGI is the total of $7,940 interest and dividend income from a trust fund, $4,190 income from a rent property, and an $8,370 loss from a new business that she started this year. Compute Ms. Jorland's maximum IRA contribution.
A. $3,760 B. $6,000 C. $4,190 D. $0