The price per unit of insurance is called the
A) premium.
B) loss adjustment expense.
C) rate.
D) loss reserve.
Answer: C
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When a company amortizes a premium, the interest expense recorded is
A) more than the cash paid. B) less than the cash paid. C) equal to the cash paid. D) all of the above can be correct.
Heather chooses to buy a scarf at Macy's and reads the price on the tag as $50. She uses her credit card to pay for the scarf, but post-purchase, she notices that the price tag actually says $500. This is an instance of a(n) ________
A) bilateral mistake B) mutual mistake of value C) innocent misrepresentation D) unilateral mistake
Derrick has 2,000 shares of Unistone Corporation, which is planning to vote for two new directors
Through a special voting provision in the corporation's articles of incorporation, Derrick was able to vote for both his preferred candidates with 2,000 shares, which gave him a virtual voting count of 4,000 shares. What voting rule in the articles of incorporation allows Derrick to achieve this? A) supramajority voting B) noncumulative voting C) cumulative voting D) preemptive voting
The cost equalization point:
A) is used to select the lowest cost of two or more alternative processes. B) is the point where unit cost of a process are at a minimum. C) is used to show the potential profit of a process. D) shows the lot size where costs are minimized. E) all of the above