Which of the following statements about term insurance is true?
A) The coverage is appropriate if the goal is permanent lifetime protection.
B) Most policies can be renewed for additional periods without evidence of insurability.
C) Premiums increase at a constant rate each time the policy is renewed.
D) Most policies have a cash value that is refunded when coverage ceases.
Answer: B
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In the billing process, the control plan of review shipped not billed sales orders (tickler file) helps to ensure:
a. effectiveness of operations (timely billing) b. efficient employment of resources c. security of resources d. input accuracy
What are bipolar questions? Give an example of a bipolar question.
What will be an ideal response?
Fantastic Futons manufactures futons. The estimated number of futon sales for the first three months of 2014 are as follows: January 40,000 February 50,000 March 60,000 Finished goods inventory at the end of 2013 was 10,000 units. On average, 25 percent of the futons to be sold in the next month are produced and kept as ending balance in finished goods inventory. The planned selling price is $150
per unit. Fantastic Futons buys direct materials for the futons in cloth rolls priced at $80 each. Each roll provides direct material for 40 futons. There was one roll in the direct materials inventory at the beginning of January, and the company expects to have four rolls in inventory at the end of the month. Assuming the production budget calls for 60,000 units to be produced in January, what would be the amount of the cloth rolls direct materials purchases budget for that month? A) $119,760 B) $114,000 C) $120,000 D) $120,240
Shannon orally agrees to buy 500 telephone answering machines from Thomas for $25,000 . Thomas delivers 300 answering machines to Shannon, who receives and accepts them. Which of the following is correct with regard to this transaction?
a. Shannon can enforce the contract for the additional 200 machines. b. The contract is enforceable to the extent of the 300 machines that have been received and accepted. c. The entire contract is in violation of the statute of frauds and cannot be enforced. d. This is a bad deal, and is therefore commercially unconscionable from the beginning and is unenforceable.