Which of the following statements is true with respect to a pure no-fault auto insurance plan?
A) Under such a plan, you would collect from your own insurer and retain the right to sue the other party if your injuries surpass a dollar or verbal threshold.
B) Most no-fault plans that have been adopted by states are pure no-fault plans.
C) Under such a plan, you would collect from your own insurer and retain the right to sue the other party without having to satisfy a threshold.
D) Under such a plan, an accident victim cannot sue the other party, and no payments are made for pain and suffering.
Answer: D
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On October 1 . 2014, Southpark Inc issued, at 101 plus accrued interest, 800 of its 1 . percent, $1,000 bonds. The bonds are dated July 1 . 2014, and mature on July 1 . 2021 . Interest is payable semiannually on January 1 and July 1 . At the time of issuance, Southpark would receive cash of
a. $800,000. b. $808,000. c. $820,000. d. $828,000.
Frank is a salesperson of Richard Laundry Equipment. He wants to give a presentation to a five star hotel for setting up an in-house laundry system. The hotel manager sent Frank the hotel's requirements and space constraints for a laundry system. Frank prepared a layout which suited the hotel's requirements. Frank has to select an approach for his allotted ten minute presentation. What advice can you give to Frank?
A. Open with a demonstration to convince the prospect. B. Use the curiosity approach to generate interest. C. Use the product approach to make the prospect aware of discounts. D. Use customer benefit statements due to the time allotment. E. Open with the premium approach as the prospect is a five star hotel.
Answer the following statements true (T) or false (F)
In the United States, the term “present fairly” in opinions of American auditing firms is the same as the “true and fair view” of international financial reporting.
Revenue expenditures are also called balance sheet expenditures.
Answer the following statement true (T) or false (F)