A favorable variance is not necessarily a good variance
Indicate whether the statement is true or false
true
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Which of the following is not one of the six guidelines or economic factors provided by SFAS No. 52 for determining the functional currency?
a. Sales price indicators b. Interest rate indicators c. Expense indicators d. Intercompany transactions and arrangements
Banks like electronic funds transfers because they eliminate the float time that a drawer enjoys on a checking account and the paperwork involved in processing checks
a. True b. False Indicate whether the statement is true or false
When a fraternal insurer began operations, it asked each member, regardless of age, to pay $20 per month to the fraternal's group life insurance plan. In exchange, each member received the same amount of life insurance
Soon younger members of the group began to drop out when they realized their premiums were subsidizing a group with a higher chance of loss. Which important underwriting principle was violated in this case? A) An underwriting profit should be attained. B) Moral hazard should be avoided. C) Insureds should be selected according to underwriting standards. D) There should be equity among policyholders.
Interim zoning is unconstitutional
Indicate whether the statement is true or false