Roger Ray runs a motel in a rented property and sublets a part of its garage to the owner of a nearby fuel station. Three months later, the motel catches fire from a fuel leak in the garage and Roger suffers severe damages
If Roger owns a standard fire insurance policy for years, the insurer can use the ________ to refuse covering the damage caused by the fire.
A) deductible clause
B) exclusions from coverage clause
C) incontestability clause
D) copay clause
B
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Which of the following statements is true regarding period costs?
A) They "attach" themselves to the product. B) They will appear the balance sheet until the product is sold. C) They will appear on the income statement in the year they are incurred. D) They will not impact gross margin or net operating income.
Holders of callable bonds exchange the bonds for capital stock of the issuing company. This is recorded as an investing activity on the statement of cash flows
Indicate whether the statement is true or false
Use the following selected information from Wheeler, LLC to determine the 2018 and 2017 common size percentages for cost of goods sold using Net sales as the base. 20182017Net sales$276,200 $231,400 Cost of goods sold 151,900 129,590 Operating expenses 55,240 53,240 Net earnings 27,820 19,820
A. 36.4% for 2018 and 41.1% for 2017. B. 55.0% for 2018 and 56.0% for 2017. C. 117.2% for 2018 and 100.0% for 2017. D. 119.4% for 2018 and 100.0% for 2017. E. 65.1% for 2018 and 56.0% for 2017.
What is managerial ambivalence?
a. When a manager is confused about ethics b. When a manager sends inconsistent signals on ethics c. A manager who does not believe in incentive plans for meeting numbers d. A manager who does not see the bottom line as most important