Which of the following statements is (are) true with respect to the time value of money?
I. One dollar received today is worth less than one dollar to be received three years from today.
II. The time value of money should be ignored in capital budgeting decisions.
(a) I only
(b) II only
(c) both I and II
(d) neither I nor II
Ans: (d) neither I nor II
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Which of the following statements about the Homeowners 3 policy is (are) true? I. Losses to the dwelling are always settled on an actual cash value basis. II. Coverage on personal property is limited to $5,000
A) I only B) II only C) both I and II D) neither I nor II