The American opportunity credit is available only for those students who are in their first or second year of postsecondary education.
Answer the following statement true (T) or false (F)
False
The AOC is available for the first four years of postsecondary education.
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An interview that occurs when you are being evaluated for promotion, selected for an academic award or scholarship, or considered for admittance to a graduate program is known as a(n) ______.
a. information-gathering interview b. performance interview c. selection interview d. mediated interview
When considering internal control, an auditor should be aware of reasonable assurance, which recognizes that:
A. The cost of an entity's internal control should not exceed the benefits expected to be derived. B. Establishing and maintaining internal control is an important responsibility of management. C. Adequate safeguards over access to assets and records should permit an entity to maintain proper accountability. D. Internal control may be ineffective due to mistakes in judgment and personal carelessness.
Which of the following statements is CORRECT?
A. An indenture is a bond that is less risky than a mortgage bond. B. The expected return on a corporate bond will generally exceed the bond's yield to maturity. C. If a bond's coupon rate exceeds its yield to maturity, then its expected return to investors exceeds the yield to maturity. D. Under our bankruptcy laws, any firm that is in financial distress will be forced to declare bankruptcy and then be liquidated. E. All else equal, senior debt generally has a lower yield to maturity than subordinated debt.
Root & Branch Lumber Company obtains a fire insurance policy from Security Insurance, Inc, on a $400,000 warehouse. The policy includes an 80-percent coinsurance clause. Root & Branch insures the property for $320,000. In a fire, the warehouse suffers $200,000 in damage. Root & Branch can recover
a. $400,000. b. $320,000. c. $200,000. d. $80,000.