What is the purpose of no-fault insurance?
A. Provide insurance for all vehicles registered in the state
B. Reduce court case loads and premium costs
C. Eliminate finger-pointing for auto accident claims
D. Limit the rights of insured individuals
Answer: B
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Explain why the lower of cost or market rule is used to value inventory.
What will be an ideal response?
Which of the following components of production are allocable as joint costs when a single manufacturing process produces several salable products?
a. direct material, direct labor, and overhead b. direct material and direct labor only c. direct labor and overhead only d. overhead and direct material only
Diversifiable risk is defined as:
A) risk with two possible outcomes B) risk with three possible outcomes C) an individual's perception of risk D) none of the above
The percentage of the total loan paid back immediately when a mortgage loan is obtained, which lowers the annual interest rate on the debt, is called
A) discount points. B) loan terms. C) collateral. D) down payment.