Impaired assets held for disposal should be reported at the lower of cost or net realizable value.

Which of the following statements regarding the fiduciary duty of a producer is CORRECT?

A) An insurance producer may never receive money meant for the insurer. B) Premiums may be kept in the producer's personal account. C) All premiums received by an insurance producer must be held in trust and cannot be used for personal matters. D) Up to $5,000 a month of premium money may be used for the producer's personal needs."

A reasonable conclusion about dividend policy is that management should avoid surprising investors when it comes to the firm's dividend decision

Indicate whether this statement is true or false.