You purchase $250,000 worth of insurance to protect your restaurant with a $10,000 deductible. How much money are you entitled to receive as a payout if a fire destroys your store which is valued at $250,000?
A. $240,000
B. $10,000
C. $250,000
D. $240,000 less co-payment
Answer: A
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The write-off of the cost of plant and equipment is called
a. depletion. b. depreciation. c. amortization. d. deterioration.
Briefly explain the Chapter 11 plan of reorganization
What will be an ideal response?
Your new employer, Freeman Software, is considering a new project whose data are shown below. The equipment that would be used has a 3-year tax life, and the allowed depreciation rates for such property are 33.33%, 44.45%, 14.81%, and 7.41% for Years 1 through 4. Revenues and other operating costs are expected to be constant over the project's 10-year expected life. What is the Year 1 cash flow? Equipment cost (depreciable basis)$65,000 Sales revenues, each year$60,000 Operating costs (excl. deprec.)$25,000 Tax rate25.0%
A. $31,666 B. $31,849 C. $33,442 D. $35,114 E. $36,869
In the integrity-based approach to ethics management, the objective is to
A. prevent criminal misconduct. B. enable responsible conduct. C. conform with externally imposed standards. D. reduce discretion, training, controls, audits, and penalties.