What a business owns is called ________.
A. liabilities
B. assets
C. net worth
D. owner's equity
Answer: B
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After-tax profits must be paid to stockholders as dividends
Indicate whether the statement is true or false.
The unborn young of stock animals are considered future goods
Indicate whether the statement is true or false
A "merchant" is defined as a person who:
a. is a dealer in a particular type of goods. b. by his occupation holds himself out as having knowledge or skills peculiar to certain goods or practices. c. employs an agent or broker whom he holds out as having such knowledge or skill. d. All of these.
Kelsey obtains a business liability insurance policy from Loyal Insurance Company for Kelsey's Modeling & Hobby Crafts store. When an event occurs that gives rise to a claim, the insurance company has a duty to A) investigate to determine the facts
B) file a suit against Kelsey so that a court can settle the claim. C) find a third party on whom to impose liability. D) refund any unearned amount of the premium.