The primary reason the insurance mechanism functions successfully is the:
A) existence of hazard risks
B) ease with which losses can be measured
C) predictability of losses via the law of large numbers
D) existence of many non-industrial nations
C
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What is the name of the legislation enacted in response to injuries and deaths from products being sold to consumers?
A. Federal Product Act. B. Product Liability and Safety Reform Act. C. Food, Drug and Cosmetic Act. D. Consumer Product Safety Act.
A pre-existing factory has a permit to emit pollution at a specified level under the Clean Air Act. Due to increased demand for production, the factory owner plans to upgrade its facilities, which could affect the amount of pollution emitted by the plant. What steps must the factory owner take to remain in compliance with the CAA? Are there specific concerns that the factory owner must consider? Explain.
What will be an ideal response?
The following information is provided for Southall Company: Sales revenue$125,000 Variable manufacturing costs 42,500 Fixed manufacturing costs 37,500 Variable selling and administrative costs 15,000 Fixed selling and administrative costs 12,500 What is this company's contribution margin?
A. $45,000 B. $67,500 C. $17,500 D. $30,000
An internal document that helps summarize data for the preparation of financial statements is called a ________
A) journal B) ledger C) worksheet D) chart of accounts