The purpose of gap insurance is to
A) pay the difference between the bodily injury liability limit purchased and the actual amount of bodily injury liability if it exceeds the limit.
B) pay the difference between the amount the insurer pays if a car is a total loss and the remaining amount owed on a lease or car loan.
C) pay the difference between the medical payments coverage limit and the actual medical expenses of injured family members or passengers in the insured auto.
D) pay the difference between the uninsured motorists coverage limit and the actual amount of the medical expenses incurred by the insured.
Answer: B
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All of the following statements regarding long-term liabilities are true except?
A. Long-term liabilities can be reported on the balance sheet in a single total or in multiple categories. B. A single long-term liability can be divided between current and noncurrent sections on the balance sheet. C. Long-term liabilities include long-term notes payable, warranty liabilities, lease liabilities, and bonds payable. D. Liabilities that do not have a fixed due date, but are payable on demand, are reported as long-term liabilities. E. Liabilities not expected to be paid within the longer of one year or the company's operating cycle are reported as long-term liabilities.
Airbnb is considered an intermediation revenue model because:
a. they help people in a real-estate-related industry b. they advertise on behalf of the homeowner/renter c. they charge commission for connecting home renters and home owners d. they are purely web-based
Advertisers often decline to work with agencies who handle competing accounts.
Answer the following statement true (T) or false (F)
Railroads are the slowest mode of transportation.
Answer the following statement true (T) or false (F)