Profit margin is equal to ________
A) net income divided by total assets
B) net income divided by total owners' equity
C) net income divided by sales
D) None of these
Answer: C
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Vivian commits suicide 4 years after taking out a $100,000 life insurance policy on herself. Her beneficiary is concerned that the death claim will be denied. Which of the following statements is NOT correct?
A) If the suicide clause were in effect, the company would refund the premiums paid. B) The company has definite proof of the cause of her death, so it can refuse to pay the death benefit. C) If the beneficiary were familiar with the policy's suicide clause, she would not doubt payment of the claim. D) The suicide clause in Vivian's policy would have expired, so it would not affect the death claim."
Buyer makes a written bonafide offer to purchase, and seller signs the acceptance. A contract is first created:
a. when buyer receives proper communication of seller's acceptance b. immediately upon seller's acceptance c. when the buyer and seller sign escrow instructions d. when the broker presents the offer to the seller