Which of the following losses would be covered under a Commercial General Liability Policy that has no endorsements?
I. The named insured rented a building and an employee of the named insured negligently started a fire at the rented building.
II. The cost to recall defective products
A) I only
B) II only
C) both I and II
D) neither I nor II
Answer: A
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Suppose that a highway is governed by a use fee charged to motorists that is based on congestion, operation and maintenance. The total traffic t is used to determine the cost of 5t2 + 7t. What is the average cost per motorist?
A) 12 B) 5t + 7 C) 10 D) 10t + 7
Whitestone Products is considering a new project whose data are shown below. The required equipment has a 3-year tax life, and the accelerated rates for such property are 33.33%, 44.45%, 14.81%, and 7.41% for Years 1 through 4. Revenues and other operating costs are expected to be constant over the project's 10-year expected operating life. What is the project's Year 4 cash flow? Equipment cost (depreciable basis)$70,000 Sales revenues, each year$42,500 Operating costs (excl. deprec.)$25,000 Tax rate25.0%
A. $13,016 B. $13,701 C. $14,422 D. $15,143 E. $15,900
Bill, the manager of Just Right Gelato, acts with integrity and honesty because he believes in a system of rules that governs the ordering of values. The system of rules that directs Bill's behavior is known as
A) compulsion. B) philosophy. C) law. D) ethics. E) justice.
If a taxpayer contributes a painting to a museum but reserves the right to use the painting for parties, he may not be allowed a deduction for the charitable contribution
a. True b. False Indicate whether the statement is true or false