Sales increases from customer-oriented promotions reflect accelerated purchases by loyal buyers rather than new sales volume from brand switchers

A firm with 60 percent of sales going to variable costs, $1.5 million fixed costs, and $500,000 depreciation would show what accounting profit with sales of $3 million?

A) $370,000 loss B) Zero loss C) $666,667 Loss D) $800,000 loss

If the insured has any incidents of ownership in a life insurance policy when he or she dies, the entire proceeds are included in his or her gross estate for federal estate tax purposes.

a. true b. false