All of the following are costs to society arising from an insurance system's operation except:
A) payments for losses caused by fraudulent claims
B) payments for losses caused by exaggerated claims
C) use of land, labor and capital to operate the insurance companies
D) payments for losses caused by windstorms such as tornadoes
D
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Disregarding risk, if money has time value, it is impossible for the present value of a given sum to exceed its future value.
Answer the following statement true (T) or false (F)
Self-________ is considered to be a judgment about one's ability to behave effectively in a given situation.
Fill in the blank(s) with the appropriate word(s).
The indirect method of reporting
a. is preferred by the Financial Accounting Standards Board (FASB), Statement of Financial Accounting Standards No. 95, "Statement of Cash Flows." b. shows a reconciliation between net income and cash flow from operations either at the bottom of the statement of cash flows or in a separate note. c. reports the amounts of cash received from customers less cash disbursed to various suppliers, employees, lenders for interest payments, and taxing authorities. d. reports the net income for a period and then adjusts the net income to convert revenues to cash received from customers and to convert expenses to cash disbursed to various suppliers of goods and services. e. includes all of the above.
Lengthy, detailed, legally-binding union contracts have clashed with employers' need for greater _____________________ that they argue is necessary for adapting to today's competitive, fast-changing business environment.
Fill in the blank(s) with the appropriate word(s).