A life insurance contract is a third party beneficiary contract involving a donee beneficiary.
Answer the following statement true (T) or false (F)
True
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During its first year of operations, Silverman Company paid $14,000 for direct materials and $19,000 for production workers' wages. Lease payments and utilities on the production facilities amounted to $17,000 while general, selling, and administrative expenses totaled $8,000. The company produced 5,000 units and sold 3,000 units at a price of $15.00 a unit.What is the amount of finished goods inventory on the balance sheet at year-end?
A. $15,000 B. $20,000 C. $10,000 D. $4,000
Discuss several actions that can have a positive influence on board of director dynamics as the board works to both oversee and advise management.
What will be an ideal response?
The maturity of most bank loans is short term. Bank loans to businesses are frequently made as 90-day notes which are often rolled over, or renewed, rather than repaid when they mature. However, if the borrower's financial situation deteriorates, then the bank may refuse to roll over the loan.
Answer the following statement true (T) or false (F)
Which of the following types of risk lend themselves well to self-insurance?
A) Car insurance and earthquake insurance B) Workers' compensation and car insurance C) Workers' compensation and health insurance D) Health insurance and earthquake insurance