A "spoliation inference" means that documents not properly introduced into court are damaging to the party who could not produce them
a. True
b. False
Indicate whether the statement is true or false
True
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Almond Industries owns an investment that experienced a decline during 2019 that has been judged to be "other than temporary". The investment is held in Almond's minority passive equity investment portfolio. It was purchased in March 2018 at a cost of $460,000. At the end of 2018, the fair value of the investment was $520,000. At the end of 2019, the fair value of the investment is $410,000. What amount of loss will Almond Industries report on its income statement for the year ending December 31, 2019 related to this investment?
A. an unrealized loss of $50,000. B. an unrealized loss of $60,000. C. a realized loss of $50,000. D. an unrealized loss of $110,000.
Which of the following is not a feature of special journals?
A. They are efficient tools in helping journalize and post transactions. B. They allow posting of amounts as column totals rather than as individual amounts. C. They eliminate the need for a general journal. D. They are used for the most common transactions. E. They produce an efficient division of labor.
Kanbar Novelties is a wholesaler of costumes and costume accessories in the U.S. Gwen's Barrow is a retail store in Iowa that sells Halloween costumes. Gwen's Barrow placed an order for 75 ninja swords, made of glass, from Kanbar Novelties. Kanbar placed the swords in cardboard boxes and shipped them by railroad, without wrapping them in protective material. Moreover, Kanbar failed to indicate that the box contained fragile goods. As a result, there was no care taken to ensure that the box was handled safely. The box was placed under other heavier goods which crushed the glass swords in the box. Kanbar claimed that its obligations ended with the delivery to the carrier and that the risk of loss was on Gwen's Barrow. What argument would you make in favor of Gwen's Barrow?
What will be an ideal response?
Which type of life insurance is the least expensive?
a. straight whole life b. limited payment whole life c. universal life d. decreasing term e. level term