Which of the following statements about "open-perils" coverage is (are) true? I. All losses are covered except those losses specifically excluded. II. The burden of proof is on the insured to prove that a loss is covered
A) I only
B) II only
C) both I and II
D) neither I nor II
Answer: A
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Carlos borrowed $100 from his friend, Juanita. Carlos signed a handwritten note stating, "I promise to pay $100 to the order of Juanita." Under these circumstances, the note is ________.
A. negotiable because it meets all the requirements for negotiability B. not negotiable because it does not acknowledge the reason for the debt C. negotiable because it is a simple contract D. not negotiable because it does not state the time payment is due
Adverse opinions Under what circumstances would an auditor issue an adverse opinion?
Assuming that riskless rate is 4.6% and the market premium is 7.3% calculate Zonk's cost of equity capital:
a. 10.4% b. 7.69% c. 11.89% d. 8.28%
____________________ is both an expense to the firm and an investment in future sales.
Fill in the blank(s) with the appropriate word(s).