In a limited partnership at least one general partner must exist; that general partner has unlimited liability. Indicate whether the statement is true or false ANSWER TRUE
Date: September 19th, 2020
An all-stock portfolio is more risky than a portfolio consisting of all bonds. Indicate whether the statement is true or false ANSWER TRUE
Date: September 19th, 2020
According to accrual accounting, revenues are recognized when earned and expenses are recognized when incurred. Indicate whether the statement is true or false ANSWER TRUE
Date: September 19th, 2020
Based on the information in Table 4-1, the times interest earned ratio is A) 12.33 times. B) 23.75 times. C) 32.33 times. D) 19.00 times. ANSWER B
Date: September 19th, 2020
Len is considering the purchase of a home. As a home is a large investment, Len wants to make sure that there are no liens, easements, or other encumbrances preventing him from an unchallenged right to possess and enjoy his property. Len can protect this right through the purchase of A) extended coverage insurance. B) […]
Date: September 19th, 2020
Based on the information in Table 4-1, the accounts receivable turnover is A) 10.00. B) 9.50. C) 8.11. D) 11.11. ANSWER D
Date: September 19th, 2020
The procedure by which significant changes may be made to a partnership, such as admission of a new partner or termination of the partnership, are governed by each state so no partnership agreement is needed. Indicate whether the statement is true or false ANSWER FALSE
Date: September 19th, 2020
Martin would like to insure valuable personal property limited in coverage by his homeowners policy. Martin has two options. He can purchase the coverage through a separate personal articles floater policy or he can add an endorsement to his homeowners policy. The endorsement is called the A) extended coverage endorsement. B) scheduled personal property endorsement. […]
Date: September 19th, 2020
D’Anthony borrowed $50,000 today that he must repay in 15 annual end-of-year installments of $5,000. What annual interest rate is D’Anthony paying on his loan? A) 5.556% B) 33.33% C) 2.222% D) 3.333% ANSWER A
Date: September 19th, 2020
Carolyn is considering the purchase of a large (60-foot) boat. She called her insurance agent to see if she needs a separate policy for the boat. The agent said that a special category of insurance policies was designed to insure large watercraft. These policies are called A) yacht insurance policies. B) flood insurance policies. C) […]
Date: September 19th, 2020
