A state law that requires individuals who have been involved in an auto accident or who have been convicted for certain vehicle-related offenses to demonstrate the ability to pay liability claims up to a specified dollar amount is called a(n)
A) financial responsibility law.
B) compulsory insurance law.
C) unsatisfied judgment fund law.
D) "no pay, no play" law.
Answer: A
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When the straight-line method of amortization is used for a bond premium, the amount of interest expense for an interest period is calculated by
A) adding the amount of premium amortization for the period to the amount of cash paid for interest during the period. B) deducting the amount of premium amortization for the period from the amount of cash paid for interest during the period. C) multiplying the carrying value of the bonds by the effective interest rate. D) multiplying the face value of the bonds by the face interest rate.
In a straight rebuy, the buyer wants to alter product specifications, prices, terms, or suppliers
Indicate whether the statement is true or false
Nations impose laws to restrict or facilitate international business because business activities can affect national interests.
Answer the following statement true (T) or false (F)
What is the ethical issue in the Rite Aid Inventory Surplus Fraud case?
A. The surplus inventory sales and kickback involved collusion between two officers of the company. When Foster wanted to stop the scheme, he was blackmailed in continuing the fraud. B. The internal auditor found and blew the whistle on the surplus inventory sales and kickback cover-up. C. Rite-Aid had a comprehensive corporate governance system that complied with all the requirements of Sarbanes-Oxley. D. Vice Presidents of the company were involved in a material, nine year surplus inventory sales and kickback scheme.