When expressed on a per unit basis, fixed costs can mislead decision makers into thinking of them as variable costs.
Answer the following statement true (T) or false (F)
True
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Compare the responsibilities associated with full-service merchant wholesalers to those associated with limited-service merchant wholesalers
What will be an ideal response?
Accounts Receivable xxx Allowance for Uncollectible Accounts xxx This entry would be made when:
a. a customer pays its account balance. b. a customer defaults on its account. c. a previously defaulted customer pays its outstanding balance. d. estimated uncollectible receivables are too low.
Vicarious liability is liability without regard to personal fault.
Answer the following statement true (T) or false (F)
One of the reasons why there is not sufficient supply for high-risk insurance applicants is:
A) consumers will not buy insurance if prices are increased B) the existence of joint underwriters associations C) regulators have limited the premiums that insurers can charge for such customers D) the number of insurance contracts written by an insurer is totally regulated