Credit term life insurance is generally more expensive per dollar of coverage than similar types of term insurance
a. True
b. False
a
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Which of the following statements is true regarding a bond?
a. A bond is a certificate that acts as evidence of ownership in a corporation. b. A bond is a certificate that represents a corporation's promise to repay a certain amount of money and interest in the future. c. If you buy a bond from a company, you are borrowing money from the company. d. Bondholders receive dividends semiannually.
The Uniform Money Judgments Recognition Act provides that U.S. courts will recognize foreign judgments provided certain conditions are met. Which of the following is NOT one of those conditions?
a. The defendant was given notice and an opportunity to appear. b. The award was based on a full and fair trial by an impartial tribunal with proper jurisdiction. c. The judgment was not fraudulent or against public policy. d. The case was heard in an American court.
The following details have been extracted from the budget of a merchandising company
Rent Expense $8,400 per month Depreciation Expense $3,500 per month Insurance Expense $2,000 per month Miscellaneous Expense 2% of sales, paid as incurred Commissions Expense 8% of sales Salaries Expense $6,000 per month Dec Jan Feb March Sales $55,000 $60,000 $75,000 $90,000 Commissions and salaries expenses are paid 50% in the month to which they are incurred and the balance in the next month. Rent and miscellaneous expenses are paid as and when they occur. Insurance is prepaid at the beginning of the quarter. Calculate cash payments for the selling and administrative expenses for the first quarter of the next year. A) $21,100 B) $49,200 C) $70,300 D) $26,200
A will is revocable at any time during the life of testator
Indicate whether the statement is true or false