An insurable interest in property is a financial interest that justifies insuring such property
a. True
b. False
Indicate whether the statement is true or false
True
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The normal sequence of documents and operations on a well-prepared systems flowchart is:
A. bottom to top and right to left. B. bottom to top and left to right. C. top to bottom and left to right. D. top to bottom and right to left.
According to the text, ________ are used primarily because of their lower cost compared to random sampling
A) periodic surveys B) panel surveys C) shared surveys D) parallel surveys E) regular surveys
Which of the following statements regarding environmental scanning is the most accurate?
A. Environmental scanning focuses primarily on ecological factors. B. Environmental scanning identifies and interprets potential trends. C. Environmental scanning changes the marketing environment. D. There is too much information generated from environmental scanning to make it viable for small firms. E. Environmental scanning should be done at least every five years.
Neeb Corporation manufactures and sells a single product. The company uses units as the measure of activity in its budgets and performance reports. During January, the company budgeted for 7,000 units, but its actual level of activity was 7,040 units. The company has provided the following data concerning the formulas used in its budgeting and its actual results for January:Data used in budgeting: Fixed element per monthVariable element per unitRevenue - $27.20 Direct labor$0 $3.20Direct materials 0 9.70Manufacturing overhead 44,300 1.10Selling and administrative expenses 27,000 0.40Total expenses$71,300 $14.40?Actual results for January: Revenue$183,448Direct labor$23,178Direct materials$68,808Manufacturing overhead$49,784Selling and administrative
expenses$30,246?The direct labor in the planning budget for January would be closest to: A. $22,400 B. $23,046 C. $23,178 D. $22,528