The loss settlement under which of the following supports the principle of indemnity?
A) life insurance
B) valued policies
C) replacement cost property insurance
D) actual cash value property insurance
Answer: D
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Critics claim that companies in the ________ industries introduce planned streams of new products that make older models obsolete, a form of planned obsolescence that harms consumers
A) car and truck B) housing and construction C) food and beverage D) consumer electronics E) financial and entertainment
Debra is a limited partner in Eco Baits, a pest control service organized as a limited partnership, which cannot pay its debts. Debra is liable for the debts? A) in proportion to the number of partners in the firm
B) to no extent. C) to the extent of her capital contribution to the firm. D) to the full extent.
Describe the two categories of global crisis management, giving recent examples. Using one recent example for each, discuss ways a company might manage the crisis to avoid disaster.
What will be an ideal response?
If a firm has no excess capacity, which of the following is a sensible bidding strategy?
A. Base the bid solely on direct labor hours. B. Try to minimize the company's tax liability. C. Set a price to cover all costs. D. Downplay the potential impact of competitors. E. Base the bid on the incremental costs incurred because the job will contribute toward the company's profit.