Which of the following statements pertaining to inspection reports on life insurance applicants is NOT correct?
A) They usually are obtained from national investigative agencies or firms.
B) They generally are requested on applicants who apply for large amounts of life insurance.
C) They provide information obtained principally from law enforcement officials.
D) They help to determine the insurability of applicants."
Ans: C) They provide information obtained principally from law enforcement officials.
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General Electric Corporation tracks employee turnover annually. It currently has a data set that contains turnover for the past 20 years. What type of data does it have?
A) Time-series data B) Cross-sectional data C) Nominal data D) Ordinal data
Calvin Corp was organized on January 1 to operate a taxi service. For each of the following business activities, please indicate whether it is a financing (F), investing (I) or operating (O) activity. A. Issued shares of stock to each of the five
owners. B. Purchased five automobiles to use as taxis. C. Paid the first month's rent for a garage. D. Obtained a loan from the bank. E. Received cash from a customer for a 10-mile taxi ride. F. Paid the drivers wages for the first week. G. Purchased a fueling station to install at the garage (includes a 500 gallon tank). H. Declared and paid cash dividends to the owners after the first month's operations. I. Paid cash to repair the brakes on one of the taxis. J. Bought land for a future taxi office.