Insurance obtained by a limited partnership on the life of the general partner would be
a. double indemnity insurance, because both the limited partnership and the general partner are insured.
b. key person life insurance, because the general partner is a key person, contributing a great deal to making the business successful.
c. a co-insurance policy because both the limited partnership and the general partner are insured.
d. whole life or straight life insurance which builds a cash value.
b
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A department may gather operating expense data by maintaining
a. direct expenses. b. indirect expenses. c. amounts allocated to each department. d. total operating expenses for each department.
Tangible long-lived assets include all of the following except
a. land. b. buildings. c. equipment. d. factories. e. franchise rights.
Process costing typically uses only one Work in Process Inventory account, while job order costing typically uses a separate Work in Process Inventory account for each department.
Answer the following statement true (T) or false (F)
Evaluate Yahoo's decision to do business in China through a partially owned subsidiary