Which of the following is most likely to be non-claimable under property insurance contracts?
A. Overflows from burst pipes
B. Loss from vandalism
C. Nuclear contamination
D. Loss from hostile fire
Answer: C
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On June 3, Win-Tel Company sold merchandize worth $800 on credit, terms 2/10, n/30 . The merchandize sold had cost $550 . The customer paid the amount on June 15 . What is the required journal entry to record the payment received under the periodic inventory system?
a. Accounts Receivable 784 Sales Discounts 16 Cash 800 b. Accounts Receivable 800 Cash 800 c. Cash 784 Sales Discounts 16 Accounts Receivable 800 d. Cash 800 Accounts Receivable 800
The phenomenon where each actor is incentivized to maximize his gain from a public asset at the expense of all others is
A) the tragedy of the commons. B) cap-and-trade. C) the closed loop. D) the social pillar.
An appliance manufacturer's products are in high demand despite their premium pricing due to the products' reliability and lower maintenance costs. The manufacturer has achieved a competitive advantage through
A. quantum product innovation. B. superior quality. C. incremental product innovation. D. superior efficiency. E. superior innovation.
Which of the following is false about a 401(k) plan?
A) Withdrawals before age 59 1/2 result in a 10% tax penalty. B) Less than 50% of all employers offering these plans match a portion of employee's contributions. C) Your contributions are limited to a set dollar amount each year. D) The money you contribute is deducted from your pay before taxes are assessed.