If a firm is projected to increases revenues by 10% AND net income by the same amount, which of the following must be TRUE? A) There can be no variable costs. B) There can be no fixed costs C) There can be no taxes. D) The change in expenses must be exactly equal to the […]
Date: September 19th, 2020
The preexisting conditions clause in a health insurance policy A) ensures that illness that occurred before coverage began will be covered by the policy. B) ensures that injures that occurred before coverage began will be covered by the policy. C) ensures that both illnesses and injuries that occurred before the coverage began will be covered […]
Date: September 19th, 2020
You have hired a financial consultant to help you develop pro forma financial statements. She projects accounts receivable as “7 days of net sales”. The projected information belongs on the ________ and you need information from the ________ to estimate the dollar value. A) balance sheet; income statement B) balance sheet; balance sheet C) income […]
Date: September 19th, 2020
Each participant in a qualified pension plan is entitled to receive an annual statement indicating their earned pension benefits. Indicate whether the statement is true or false ANSWER TRUE
Date: September 19th, 2020
With the death in 1992 of Sam Walton, the founder of Walmart, the Walton Family influence: A) today is nonexistent. B) is minimal despite having a family member on the board of directors. C) remains strong with family control of just under 50% ownership. D) None of the above. ANSWER C
Date: September 19th, 2020
Under a traditional comprehensive health insurance, long-term health care coverage generally pays for A) only skilled nursing care required by an illness or injury. B) only skilled nursing care required by injury. C) all nursing care including care which is primarily custodial. D) only personal and custodial nursing care. ANSWER A
Date: September 19th, 2020
In a defined contribution plan, the amount that will be available at retirement is uncertain. Indicate whether the statement is true or false ANSWER TRUE
Date: September 19th, 2020
In the years immediately following the Great Recession of 2007 – 2009, consumer confidence generally increased. Indicate whether the statement is true or false ANSWER TRUE
Date: September 19th, 2020
The term “community property” as applied in estate planning is property that A) belongs to the government and therefore cannot be bequeathed by private individuals. B) was acquired by the joint efforts of husband and wife and in which each equally shares in the ownership. C) is equally shared by parents and children within the […]
Date: September 19th, 2020
An increase in consumer confidence is particularly important for a retail firm such as Walmart. Indicate whether the statement is true or false ANSWER TRUE
Date: September 19th, 2020
