An "occurrence" based policy is also known as a "claims made" policy in professional liability insurance
Indicate whether the statement is true or false
FALSE
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In a job order costing system, when overhead costs are applied, they increase the Work in Process Inventory account
Indicate whether the statement is true or false
Ichiro is injured in a two-car accident and sues Heather, the driver of the other vehicle, alleging negligence. Heather claims that Ichiro was driving more carelessly than she was. Comparative negligence may reduce Ichiro’s recovery
A. even if Ichiro was only slightly at fault. B. only if Ichiro and Heather were equally at fault. C. only if Ichiro was less at fault than Heather. D. only if Ichiro was more at fault than Heather.
You have started an architecture company and are targeting several companies that you feel might be interested in your services. Should you e-mail copies of your portfolio to these companies?
A) Yes. B) No.
As of December 31, Year 1, Gant Corporation had a current ratio of 1.29, quick ratio of 1.05, and working capital of $18,000. The company uses a perpetual inventory system and sells merchandise for more than it cost. On January 1, Year 2 Gant paid $3,600 on accounts payable. Which of the following statements is not true?
A. Gant's working capital will remain the same. B. Gant's quick ratio will increase. C. Gant's current ratio will increase. D. Gant's quick ratio will increase and its current ratio will decrease.