An insurable interest can best be described as:
A) The item is question being fully capable of identification at the time of a loss, even if it
could not have been identified at the time that the insurance policy was taken out.
B) The insurance covering an item that, if damaged or destroyed, would cause a loss for the
party if it were damaged or destroyed in the absence of insurance.
C) The insured having paid the premiums of an insurance policy as called for in the policy.
D) The item in question being fully covered under a valid insurance policy.
B
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What effect is expected at the end of the life of a project that initially required a $20,000 increase in net working capital?
A) no effects are expected from sunk costs B) the firm receives a $20,000 cash inflow C) taxable income is reduced by $20,000 D) the $20,000 must now be paid by the firm
All of the following are personal property, except:
a. promissory notes b. easements c. leases d. trade fixtures