Which of the following statements about the personal property coverage (Coverage C) of the Homeowners 3 policy is (are) true?
I. There are special limits of liability that apply to certain types of personal property.
II. The full amount of coverage applies only if the property is permanently located at any residence of the insured.
A) I only
B) II only
C) both I and II
D) neither I nor II
Answer: C
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Before accepting an engagement to audit a new entity, an auditor is required to:
A. make inquiries of the predecessor auditor. B. become a member of the entity's board of directors. C. tell the company whether or not the auditor is willing to issue a "clean" opinion. D. prepare a memorandum setting forth the staffing requirements and documenting the preliminary audit plan.
Discuss the costs of conflict in the workplace
What will be an ideal response?
Billings Paper Co. recently sold their Green Bay, WI plant to a larger company. The union contract specified that any new owner would need to recognize and bargain with the existing union at Billings. This contract provision is called a(n):
A. Successorship clause B. Union recognition clause C. Union shop agreement D. Employee rights clause
Banks may not assign their loan contracts to other firms
Indicate whether the statement is true or false