Which of the following statements about workers' compensation insurance is true?
A) The cost to employers has been increasing.
B) The premiums have been decreasing.
C) Insurers have been making high profits on this coverage.
D) None of the above
A
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The Ming Trust distributes an asset to its income beneficiary that shows a realized gain. What are the Federal income tax consequences of the distribution? What if the asset shows a realized loss?
What will be an ideal response?
Which of the following describes the result of a Chapter 7 filing?
a. "a complete liquidation or shutting down of the business" b. "courts give debtor time to reorganize" c. "2 years probation and/or up to 300 hours community service" d. "Debtors make regular payments for a number of years"
Which of the following budgets is the materials purchases budget based on?
a. Manufacturing overhead budget b. Production budget c. Selling and administrative expense budget d. Direct labor budget
Which of the following statements comparing preferred stock to other financial instruments is NOT true?
A) Like common shares, preferred dividends are after-tax payments for the firm. B) Like bonds, preferred shares are issued with a face value. C) Like bonds, most preferred shares have maturities of up to 30 years. D) Like common shares, preferred dividends are typically paid quarterly.