Which of the following statements concerning homeowners' insurance is false?

A)

Under named perils insurance, it is the insurance company's responsibility to prove that your loss was not due to one of the named perils.
B)

Even under all risks insurance some perils, such has earthquakes, are excluded.
C)

Named perils insurance protects you only against perils that are specifically named in the policy.
D)

In actuality, named perils insurance provides broader coverage than all risks insurance.


A

Business

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If cash is received from customers in payment for services that have not yet been performed, the business would record the cash receipt as:

A. A credit to accounts payable. B. A credit to an unearned revenue account. C. A debit to an unearned revenue account. D. A credit to a prepaid expense account. E. A debit to a prepaid expense account.

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A) categorizing a block of text in a sentence. B) reducing multiple words to their base or root. C) transforming the term-by-document matrix to a manageable size. D) creating new branches or stems of recorded paragraphs.

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Crockin Corporation is considering a machine that will save $9,000 a year in cash operating costs each year for the next six years. At the end of six years it would have no salvage value. If this machine costs $33,165 now, the machine's internal rate of return is closest to (Ignore income taxes.):See separate Exhibit 13B-1 and Exhibit 13B-2, to determine the appropriate discount factor(s) using the tables provided.

A. 18% B. 17% C. 19% D. 16%

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