Which of the following statements about errors and omissions insurance is (are) true?
I. It is purchased by professionals to protect against claims arising for negligent acts, errors, and omissions.
II. It is designed to meet the needs of stock brokers, attorneys, engineers, architects and other professionals who give advice to clients.
A) I only
B) II only
C) both I and II
D) neither I nor II
Answer: C
You might also like to view...
Exhibit 15-2 Lawrence, Inc, entered into a subscription contract with several subscribers that calls for the purchase of 2,000 shares of $5 par common stock for $15 a share. The contract calls for a 20% down payment and specifies that any amounts not paid within the contract period will be forfeited in full. ? Refer to Exhibit 15-2. Lawrence received final payment (80%) on 1,800 shares and
issued those shares. Subscribers defaulted on 200 shares. The entry to record the default on 200 shares would include a A) debit to Common Stock Subscribed for $3,000. B) credit to Subscriptions Receivable: Common Stock for $3,000. C) debit to Additional Paid-in Capital on Common Stock for $2,000. D) credit to Additional Paid-in Capital from Subscribed Stock for $600.
A make-to-order process would be characterized by all of the following except?
a. Long time to product completion b. High degree of customization available c. High cost per unit d. High volume
The defendant's reply to the complaint, in which the defendant admits or denies the allegations, is known as:
a. a rebuttal b. a request for hearing c. a countercomplaint d. a motion to admit e. none of the other choices are relevant
Which of the following functions does a project sponsor perform in an e-learning program?
A) deciding on the course content B) assessing the participants of the course C) developing best strategies for the success of the program D) defining project goals and paying the bills