Which of the following is a covered person under the medical payments coverage of the PAP?
A) a family member of the named insured if struck by an auto while crossing the street
B) a pedestrian struck by the named insured's auto
C) the named insured while she is operating her car as a taxi
D) a carjacker who is involved in an accident after stealing the insured's car
Answer: A
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Should firms report interest income and fair value holding gains from investing in corporate bonds in current period net income when the bonds are classified as held-to-maturity?
a. No, only fair value holding gains are reported in current period income. b. No, only interest income is reported in current period income. c. No, neither is reported in current period net income. d. Yes, both are reported in current period net income.
Which of the following transactions would affect cash flows in the current year?
a. Payment of dividends declared in a previous year. b. A write off of an uncollectible account. c. Issuance of stock dividend. d. Recognition of depreciation expense