Jones buys a life insurance policy from Liberty Insurance Company. The policy is designed to pay Smith the sum of $100,000 upon Jones's death. The policy is an example of ________
A) a no-competition clause
B) the parol evidence
C) a third-party beneficiary contract
D) an assignment of rights
C
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Which of the following is not a criticism of pension accounting and reporting?
A. Some argue that operating income is misstated due to the deduction of pension expense. B. Management has the discretion with respect to choosing the expected rate of return on plan assets. C. Some argue that service cost should be the only component of pension expense. D. Net income immediately includes fund asset gains and losses, as well as projected benefit obligation actuarial gains and losses.
Differences between a traditional airline and a budget airline can be best described as a difference in the ___________ of the airlines.
a. goods–service packages b. customer profile c. explicit services d. financial model
Refer to the data given in the table for Acme Widgets, Inc. Solve the transportation problem using Excel Solver. (Remember that in balanced transportation problems all constraints—except the non-negativity constraints of the decision variables—should be set as an equal to (=) sign in the Excel Solver dialogue.) At the optimum solution, the total shipment of widgets from Bryan to Dayton is ______.
a. 2,000
b. 3,500
c. 4,500
d. 3,000
The expense recognition (matching) principle is used to determine how much of the cost of goods available for sale is deducted from sales and how much is carried forward as inventory.
Answer the following statement true (T) or false (F)