The normal balance of an account is the increase side of the account.

If there is a conflict between state law and a provision in a homeowners policy,

A) the policy wording takes precedence. B) the state law takes precedence. C) the policyholder is entitled to whichever provides broader coverage. D) the policy is null and void.

Which of the following is true of stakeholders?

A) They are the owners of a firm. B) They are groups to whom a firm has financial obligations. C) They are groups having a direct economic link to a firm. D) They include only the bondholders, common stockholders, and preferred stockholders