The accidental destruction of a negotiable instrument will not result in its cancellation
a. True
b. False
Indicate whether the statement is true or false
True
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An individual must earn ______ “credits” in their lifetime in order to become eligible for Social Security retirement.
A. 40 B. 80 C. 20 D. 75
JetSky Airways has three divisions, the Western Division, the Eastern Division, and the Northern Division. The manager of the Western Division had wanted to purchase replacement airplanes for the division. However, he decided against it because, although revenues would increase and the new planes would be less expensive to operate, the initial cost of the planes was quite large. The Western
Division is most probably accounted for as a A) cost center. B) revenue center. C) profit center. D) investment center. E) none of these.
In an audit report in the annual report, a qualified opinion states that the financial statements are presented fairly in all material respects
Indicate whether the statement is true or false
Jane purchased a $50,000 liability insurance policy from Insurer A. Fearing that she did not have enough liability insurance, she purchased an additional $100,000 of liability coverage from Insurer B
As a result of a negligent act, Jane was ordered to pay $75,000 in damages. Assuming the coverage from Insurer A is primary and the coverage from Insurer B is excess, how will this claim be settled? A) Insurer A will pay $50,000 and Insurer B will pay $25,000. B) Insurer A will pay $37,500 and Insurer B will pay $37,500. C) Insurer A will pay $25,000 and Insurer B will pay $50,000. D) Insurer A will pay nothing and Insurer B will pay $75,000.