Bruce lied about his health history when he purchased a life insurance policy. He died 3 years after the policy was issued
Which life insurance policy provision will require the life insurer to pay the beneficiary even though Bruce lied on the application?
A) incontestable clause
B) entire contract clause
C) ownership clause
D) change-of-plan provision
Answer: A
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A company has $8,000 in cash, $9,250 in accounts receivable, and $19,500 in inventory. If current liabilities are $14,350, then the quick ratio would be
a. 5.0 to 1 b. 2.6 to 1 c. 2.0 to 1 d. 1.2 to 1
What problem(s) may be encountered analyzing the balance sheet?
a. All of the answers are correct. b. Some assets are valued at market value while other assets are valued at cost. c. Not all items of value to the firm are included as assets. d. Accounting principles selected by management may differ from those used by other comparable companies.
What is the objective function?
A production of 300 units of Twiddle Bugs, an educational toy for children, must be completed within 1 week by BugU Manufacturing. Two production lines are available, each for 30 hours during the week. Production line 1 can produce five units per hour and production line 2 can produce four units an hour. Line 1 costs $50 per hour to operate and line 2 costs $55 per hour. Overtime is available for line 1 at $15 per hour and for line 2 at $12 per hour. Management goals in decreasing order are: P1: Produce 300 units. P2: Maximum allowable overtime of 6 hours for line 1. P3: Cost of overtime must not exceed $750. P4: Avoid the underutilization of either production line. Assign weights that are proportional to their production capability. P5: Producing more than 300 units is 1-1/2 times as undesirable as producing under 300 units.
Cash-and-carry wholesalers draw most of their customers from large retailers and industrial firms.
Answer the following statement true (T) or false (F)