Which of the following is correct concerning when insurable interest must exist?
A) In property and liability insurance, it must exist at the inception of the contract.
B) It is seldom required in property insurance unless there are liens on the property.
C) It must exist at the time of death of the insured for the beneficiary to collect in life insurance.
D) In life insurance, it must exist at the inception of the policy but it is not necessary at the time of the loss.
D
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The research of Dr. Ralph G. Nichols has little application to the customer service industry.
Answer the following statement true (T) or false (F)
When job-order costing is used, the primary focal point of cost accumulation is the
a. department. b. supervisor. c. item. d. job.
In which of the following ways has the Financial Executives Institute (FEI) become involved in the accounting standard-setting process?
a. By funding research projects in accounting and related areas b. By reviewing FASB discussion memorandums and exposure drafts and communicating an official position to FASB. c. By participating in FASB public hearings d. All of the above
________ advertising is common during the maturity stage of the product life cycle, but you should avoid this if your brand is the leader.
A. Covert B. Pioneering C. Institutional D. Comparative E. Competitive