A piece of property whose owner intentionally placed it somewhere but forgot its location is referred to as ________ property
A) abandoned
B) lost
C) mislaid
D) res judicata
C
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The product unit cost is the sum of the cost elements added in all production department processes
Indicate whether the statement is true or false
An office machine was purchased for $9,000 cash on January 1 . The machine has a useful life of 3 years and a scrap or salvage value of $1,500 . The annual depreciation for this machine will be:
a. $1,500. b. $3,000. c. $2,500. d. $2,000. e. none of the above.
Call provisions on corporate bonds are generally included to protect the issuer against large increases in interest rates. They affect the actual maturity of the bond but not its price.
Answer the following statement true (T) or false (F)
Larry has $25,000 of bodily injury liability coverage under his PAP. This limit is the minimum amount required by his state to be considered financially responsible
While on a vacation, Larry visited a neighboring state which has a minimum financial responsibility limit of $50,000 for bodily injury. Which of the following statements describes the situation for Larry while he was in the neighboring state? A) Larry's policy was suspended while he was in the neighboring state. B) Larry had only $25,000 of liability coverage. C) Larry's policy automatically provided $50,000 of liability coverage. D) Larry's policy automatically provided $100,000 of liability coverage.