Javier Jimenez was pleasantly surprised to find out that within three to five years after expiration of a previous life insurance policy, he can
A) change beneficiaries.
B) void the grace period.
C) reinstate the policy subject to current qualifications.
D) change the incontestability clause.
E) both A and D above.
Answer: C
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Stan is the manager of a division that has been struggling lately. It is budget time and Stan feels he is under the gun to do well next year. As such, he is building slack into his budget. How will he handle estimates of revenues and expenses? Revenues Expenses
a. Overestimate Overestimate b. Overestimate Underestimate c. Underestimate Underestimate d. Underestimate Overestimate
If standard costing is not economically feasible for a company, predetermined overhead rates should not be used
Indicate whether the statement is true or false
Material is added at the beginning of a process in a process costing system. The beginning Work in Process Inventory for the process was 30 percent complete as to conversion costs. Using the FIFO method of costing, the number of equivalent units of material for the process during this period is equal to the
a. beginning inventory this period for the process. b. units started and completed this period in the process. c. units started this period in the process plus the beginning Work in Process Inventory. d. units started and completed this period plus the units in ending Work in Process Inventory.
Which of the following statements concerning e-mail messages to international colleagues is incorrect?
a. Use phrases such as "hello" in the customer's language. b. Avoid asking questions starting with the word "why." c. Use primarily compound and complex sentences. d. Apologize when a mistake has been made even though you do not think you are at fault.