Gail lives near a fault line. She added an earthquake endorsement to her Homeowners 3 policy. All of the following statements about the endorsement are true EXCEPT
A) The deductible is expressed as a percentage of the coverage limit rather than as a dollar amount.
B) The endorsement also covers landslides and volcanic eruptions.
C) Aftershocks occurring within 72 hours of an earthquake are considered part of the same occurrence.
D) The endorsement also covers flood losses.
Answer: D
You might also like to view...
Which of the following statements about the break-even point is true?
A) It is used to determine how many more units need to be sold to increase market share by a specific amount. B) It is a technique used to calculate fixed costs. C) It determines the amount of retained earnings a company will have during an accounting period. D) It is a technique marketers use to examine the relationship between supply and demand. E) It is calculated using contribution per unit costs and total fixed costs.
Before preparing the balance sheet and income statement, an accountant would use what accounting record to first record the firm's transactions?
a. the trial balance b. the adjusting entry c. the general ledger d. the journal e. the subsidiary ledger
An analyst examines changes in a firm's various ratios over a three-year period—a so-called _____ analysis and performs a _____ analysis comparing a given firm's ratios with those of other firms for a specific period
a. cross-section; time-series b. time-series; cross-section c. profitability; time-series d. time-series; profitability e. none of the above
Accompanying the bank statement was a debit memo for an NSF check received from a customer. What entry is required in the company's accounts?
A) debit Other Income; credit Cash B) debit Cash; credit Other Income C) debit Cash; credit Accounts Receivable D) debit Accounts Receivable; credit Cash