The appraisal provision in the Personal Auto Policy is used to determine the
A) value of a loss payable under property damage liability.
B) amount paid for a physical damage loss to the insured's auto if the insured and insurer disagree.
C) amount of auto insurance that should be purchased for an older/antique car.
D) value of the loss payable under the medical payments coverage.
Answer: B
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Indicate whether the statement is true or false
Orleans, Inc was incorporated on January 1, 2014. Orleans issued 4,000 shares of common stock and 1,200 shares of preferred stock on that date. The preferred stock is cumulative, $100 par, with an 12% dividend rate. Orleans has not paid any dividends yet. In 2017, Orleans had its first profitable year, and on November 1, 2017, Orleans declared a total dividend of $63,000. What is the total amount that will be paid to preferred shareholders?
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