The recent bankruptcy of auto manufacturers General Motors and Chrysler were caused due to ________
A) changes in the social trend
B) political instability
C) changes in legal requirements
D) economic shocks
E) changing nature of the workforce
D
Explanation: D) The recent bankruptcy of auto manufacturers General Motors and Chrysler were caused due to global recession.
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Rocky Boot Co. reported net income of $216,000 for its year ended December 31, 2012. Purchases totaled $152,000. Accountants payable balances at the beginning and end of the year were $36,000 and $33,000, respectively Beginning and ending inventory balances were $44,000 and $46,000, respectively. Assuming that all relevant information has been presented, Rocky Boot would report operating cash flows of
a. $155,000 b. $221,000 c. $211,000 d. $151,000
Which statement is false of Homeowners policies?
A) The HO-2 covers the dwelling and contents for the broad form perils. B) The HO-2 does not cover loss to a fence, driveway, or walk caused by a vehicle owned or operated by the insured. C) The HO-2 pays for losses to the contents on an actual cash value basis. D) The HO-2 will pay for a broken pipe that has caused water damage.