Bob is 25 years old and has a 40-year-old uncle who has recently entered his second
adolescence. Bob is close to this uncle although the uncle does not provide Bob with any
support.
Within the past year, Bob's uncle has obtained a divorce, bought a large customized
motorcycle, and begun smoking and drinking heavily. In addition, he has begun hanging out in
bars known for periodic violence. Bob decides that taking out a life insurance policy on his
uncle could be a good investment. In this situation:
A) Bob has an insurable interest in his uncle because of the close family relationship.
B) Bob does not have an insurable interest because he took out the policy only after his
uncle's lifestyle change.
C) Bob does not have an insurable interest because the relationship is too remote and he
receives no support from the uncle.
D) Bob has an insurable interest, but only if he is named in his uncle's will to receive assets
from his uncle's estate.
C
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Answer the following statement true (T) or false (F)
A company has sales of $376,800 and its gross profit is $158,300. Its cost of goods sold equals:
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