A claims-made liability insurance contract pays for:
A) injuries suffered by the insured during the policy period
B) defense costs if the insured is sued, but not for actual damages awarded to a plaintiff
C) claims only when an insured is sued, but does not pay for defense costs
D) claims filed against the insured during the policy period
D
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Statutes are written laws that establish certain courses of conduct that covered parties can use as a form of guidance
Indicate whether the statement is true or false
A company uses the following standard costs to produce a single unit of output. Direct materials6 pounds at $0.90 per pound=$5.40 Direct labor0.5 hour at $12.00 per hour=$6.00 Manufacturing overhead0.5 hour at $4.80 per hour=$2.40 During the latest month, the company purchased and used 58,000 pounds of direct materials at a price of $1.00 per pound to produce 10,000 units of output. Direct labor costs for the month totaled $56,350 based on 4,900 direct labor hours worked. Variable manufacturing overhead costs incurred totaled $15,000 and fixed manufacturing overhead incurred was $10,400. Based on this information, the total direct labor cost variance for the month was:
A. $1,200 unfavorable B. $2,450 unfavorable C. $1,200 favorable D. $3,650 favorable E. $2,450 favorable
What is a drawing of the movement of material, product, or people?
A) flowchart B) process chart C) service blueprint D) process map E) vision system
What kind of fairness is being requested when customers want their complaints handled politely, fairly and honestly?
What will be an ideal response?