Which of the following statements about eligibility requirements for homeowners insurance is (are) true?
I. A contract can be written on a twenty-unit apartment complex as long as the tenants are families.
II. Separate forms are available for renters and condominium owners.
A) I only
B) II only
C) both I and II
D) neither I nor II
c
Answer: B
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The cost of operating the common manufacturing facility is a(n) ________ cost
A) opportunity B) traceable C) nontraceable D) sunk E) differential
Curtis, a trustee, fraudulently purchases property with trust funds and puts title in his own name. What type of trust will a court create?
a. Constructive trust. b. Implied trust. c. Express trust. d. Resulting trust.
Which of the following statements is CORRECT?
A. The statement of cash flows reflects cash flows from operations, but it does not reflect the effects of buying or selling fixed assets. B. The statement of cash flows shows where the firm's cash is located; indeed, it provides a listing of all banks and brokerage houses where cash is on deposit. C. The statement of cash flows reflects cash flows from continuing operations, but it does not reflect the effects of changes in working capital. D. The statement of cash flows reflects cash flows from operations and from borrowings, but it does not reflect cash obtained by selling new common stock. E. The statement of cash flows shows how much the firm's cash--the total of currency, bank deposits, and short-term liquid securities (or cash equivalents)--increased or decreased during a given year.
How are sales contracts handled when terms are missing?
A) If a sales contract does not state the price of goods that will be sold to the buyer, the contract is considered invalid. B) If the price term is not expressly stated, it will be held to be the reasonable price for the same goods in the market. C) When a contract includes the supply of both services and goods, the contract is considered to be a contract for the sale of goods only if the terms expressly state it is subject to the UCC. D)If parties indicate that the price of goods must be fixed at a later date, and no price is thus fixed, the goods must be supplied at whatever price the seller sets.s not.