The relative level of surplus in the insurance industry is called the industry's
A) capacity.
B) liabilities.
C) reserves.
D) admitted assets.
Answer: A
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Dr. Gomez is retiring as a doctor in private practice. He wants to start a(n) __________, Doctor Help, that will provide low-income individuals in the United States with medical assistance at no cost.
A. for-profit organization B. union C. mutual-benefit organization D. nonprofit organization E. co-op
Seashell Company is considered "very liquid" for the year ended December 31, 2016 . This means that Seashell
a. has a small quick ratio. b. must decrease its liquidity in order to appear favorable to stockholders. c. should sell plant assets in order to remain in business. d. is able to pay its current debts using its current assets.
In some cases, part performance of a contract for the sale of land takes the contract out of the coverage of the statute of frauds.
Answer the following statement true (T) or false (F)
Which of the following most likely is an estimated liability?
A) Liability for vacation pay B) Payroll liabilities C) Unearned revenues D) Current portion of long-term debt