Which one of the following statements about forecasting is TRUE?
A) The five basic patterns of demand are the horizontal, trend, seasonal, cyclical, and the subjective judgment of forecasters.
B) Judgment methods are particularly appropriate for situations in which historical data are lacking.
C) Casual methods are used when historical data are available and the relationship between the factor to be forecast and other external and internal factors cannot be identified.
D) Focused forecasting is a technique that focuses on one particular component of demand and develops a forecast from it.
B
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All of the following are exceptions to the principle of indemnity EXCEPT:
a. valued policies b. actual cash value insurance c. replacement cost insurance d. life insurance
With a traditional IRA and earned income below federally determined limits, the annual contributions
A) are taxed, but the interest on the fund accumulates tax free. B) reduce your taxes, but the interest income on the IRA is taxed in the year it is earned. C) reduce your taxable income. The funds in the IRA and the return on the IRA are not taxed until the funds are disbursed in your retirement years. D) are taxed once when they are placed in the IRA and again when they are disbursed from the IRA.