Bea takes out a life insurance policy with Vida Insurance Corporation that names her spouse Wendell as the beneficiary. This is
A) a delegation
B) an assignment.
C) a third party incidental beneficiary contract.
D) a third party intended beneficiary contract.
D
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At the end of a period, before the accounts are adjusted, Allowance for Doubtful Accounts has a debit balance of $2,000. If the estimate of uncollectible accounts determined by aging the receivables is $30,000, the current provision to be made for uncollectible accounts expense is $30,000
Indicate whether the statement is true or false
Brant Ranger, Paula Potts and Matthew Lane are all tax lawyers and partners in Ranger Potts & Lane LLP. They practiced together and were successful for many years before the partnership ran into difficulties
Lane was retained by Phillip Schooner, a wealthy client. Lane acted negligently for Schooner in several income tax transactions which breached the Income Tax Act and caused millions of dollars in losses to Schooner. Schooner brought a legal action over this. Which of the followings statements is TRUE? Schooner can claim against A) the firm's assets B) none of the partners' personal assets C) the firm's assets and the personal assets of Lane only D) the firm's assets and all of the partners' personal assets E) only the insurance provider for the firm
A policy ________.
A. typically contains an ambiguous term B. specifically states what should or should not be done C. is a series of sequential steps a manager uses to respond to a structured problem D. is used when dealing with unstructured problems and nonprogrammed decisions
In vertical analysis of an income statement, each item is expressed as a percentage of:
A. Total expenses. B. Sales. C. Net income. D. None of these answers is correct.