Which of the following statements is TRUE?
A) an insurance agent is the sales rep for an insurance company
B) an insurance broker is an agent for the insurance company
C) an insurance broker is an agent for the insurer
D) a premium is paid by the broker for the insured
E) A and C
E
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Creeping expropriation is said to have occurred when a previously expropriated property by the government is returned to the original owners
Indicate whether the statement is true or false
In 2016, Aspinwall Company issued $200,000 of bonds for $175,000 . If the face rate of interest was 9% and the effective rate of interest was 7.99%, how would Aspinwall calculate the interest expense for the first year on the bonds using the effective interest method?
a. $175,000 × 7.99% b. $175,000 × 9% c. $10,000 × 7.99% d. $10,000 × 9%
An internal issue to be considered when setting a price is
a. whether the process is labor-intensive or automated. b. the customer's preferences for quality versus price. c. current prices of competing products or services. d. the life of the product or service.
Which of the following statements about financial statements is incorrect?
A. The net margin ratio is a profitability ratio. B. The debt to assets ratio is a liquidity ratio. C. The dividend yield is a stock market ratio. D. The current ratio is a liquidity ratio.