Polly purchased a Homeowners 3 policy. She has a swing set in the backyard of her home
While her son and the neighbor's child were using the swing set, it collapsed. Both of the children required medical care. Which of the following statements is true?
A) The medical expenses Polly's son are covered under the policy.
B) The medical expenses of the neighbor's child are covered under the policy.
C) If Polly's son sues Polly and wins, the insurer will pay the damage award.
D) If the neighbor sues Polly, Polly must pay for the lawyer who defends the suit.
Answer: B
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Tyson is a 25 percent partner in the KT Partnership. On January 1, KT makes a proportionate distribution of $16,000 cash, inventory with a $16,000 fair value (inside basis $8,000), and land with a fair value of $8,000 (inside basis of $12,000) to Tyson. KT has no liabilities at the date of the distribution. Tyson's basis in his KT Partnership interest is $24,000. What is Tyson's basis in the distributed inventory and land?
A. $0 inventory, $8,000 land. B. $16,000 inventory, $8,000 land. C. $8,000 inventory, $0 land. D. $8,000 inventory, $12,000 land.
________ scaling is a comparative scaling technique that uses a rank order procedure to sort objects based on similarity with respect to some criterion
A) Constant sum B) Q-sort C) Paired comparison D) Rank order
Which conflict management style enables the user to maintain relationships by doing things other people’s way?
a. negotiating b. accommodating c. collaborating d. forcing
Current liabilities are:
A) due, but not receivable for more than one year. B) due, but not payable for more than one year. C) due and receivable within one year. D) due and payable within one year.