When the single liability limit is the same as the limit per accident on a split liability limit policy,
A)
the better coverage will depend upon the number of people involved in the accident and the severity of the physical injuries.
B)
both policies will provide identical coverage.
C)
the split liability limit will provide the better coverage.
D)
the single liability limit will provide the better coverage.
D
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Indicate whether the statement is true or false
Kotter Mining Company purchases a gravel pit for $2,500,000 . It estimates that 5,000,000 tons of gravel can be extracted over the pit's useful life. If 930,000 tons are extracted and sold during the first year, the entry to record the depletion expense is:
a. Depletion Expense – Gravel pit 465,000 Accumulated Depletion – Gravel pit 465,000 b. Depletion Expense – Gravel pit 116,250 Accumulated Depletion – Gravel pit 116,250 c. Depletion Expense – Gravel pit 232,500 Accumulated Depletion – Gravel pit 232,500 d. Depletion Expense – Gravel pit 348,750 Accumulated Depletion – Gravel pit 348,750
Lee Carter Inc forecast of sales is as follows: July, $50,000; August, $80,000; September, $150,000. Sales are normally 75 percent cash and 25 percent credit. Credit sales are collected in full in the following month. Merchandise cost averages 70 percent of sales price. The company desires an inventory as of September 30 of $50,000. The inventory as of June 30 was $30,000. The accounts receivable
had zero balance on June 30. Total purchases that must be made in order to meet sales and inventory requirements of Lee Carter for the quarter amount to A) $216,000. B) $176,000. C) $246,000. D) $226,000.
________ is the performance of any helpful or professional work or activity for a person, family, or organization.
A. Value creation B. Customer satisfaction C. Customer service D. Market follow-up E. Service customization