Mr. Green's 24-year old son still lives at home while attending college part-time. The son also has an apartment near his college campus. His stereo is stolen from the apartment
The stereo has a $1,400 replacement cost, and an actual cash value of $900. If there is a $100 deductible on Section I, how much will the HO-3 contract pay for the stolen stereo?
A) $800
B) $900
C) $0, because the son is not covered by the contract
D) $1,400
A
You might also like to view...
The following information is available for Flanders and its two main competitors in the industry, Sanders and Anders:?FlandersSandersAnders?Cash$ 9,800$10,500$26,500?Short-term investments6,4008,20012,500?Accounts receivable12,5008,50014,350?Merchandise inventory30,15040,00040,150?Prepaid expense9006,7502,450?Accounts payable19,40013,75026,800?Salaries payable1,2003,5006,250?Other current payables6001,2002,150??????The industry standard for the current ratio is 1.8 and the industry standard for the acid-test ratio is 1.Required:1. Calculate the current ratio and acid-test ratio for each firm.2. Rank the firms in decreasing order of liquidity.3. Comment on Flanders' relative liquidity position.
What will be an ideal response?
Assume a beginning inventory as follows: 10 units @ $1.00, 100 units @ $0.90, and 10 units @ $1.10 . A purchase of 80 units @ $1.05 is made, and then a sale of 110 units is made. Using perpetual LIFO, what is the cost of inventory on hand after the sale?
a. $28.00 b. $95.00 c. $82.00 d. $59.00 e. $88.00
Monique is an immigrant to the United States who became a citizen two years ago. She does not participate in elections or keep track of current events. Kellerman would classify Monique as what type of follower?
A. diehard B. pragmatist C. bystander D. isolate
Except for third party contracts, contracts always have only two parties.
a -Always true b -Never true c -Sometimes true d -None of the above