Which of the following is implied by the requirement that a loss should be determinable and measurable to be insurable? I. The loss must be definite as to place. II. The loss must be definite as to amount
A) I only
B) II only
C) both I and II
D) neither I nor II
Answer: C
You might also like to view...
In addition to affordability, identify the two most important factors for a company to consider when selecting a brand to license
What will be an ideal response?
A symbol can serve as a valid signature
Indicate whether the statement is true or false
A ________ transaction in the interbank market is the simultaneous purchase and sale of a given amount of foreign exchange for two different value dates
A) spot B) forward-forward C) swap D) futures
Scharfenberg Corporation is an oil well service company that measures its output by the number of wells serviced. The company has provided the following fixed and variable cost estimates that it uses for budgeting purposes and the actual results of operations for March. Fixed Element per MonthVariable Element per Well ServicedActual Total for MarchRevenue $5,700$145,100Employee salaries and wages$50,300 $1,200$79,300Servicing materials $700$12,200Other expenses$31,600 $31,400?When the company prepared its planning budget at the beginning of March, it assumed that 23 wells would have been serviced. However, 25 wells were actually serviced during March.?The activity variance for "Other expenses" for March would have been closest to:
A. $2,712 F B. $0 C. $200 U D. $200 F