Which of the following statements about various coverages under a Personal Articles Floater is (are) true? I. Each item of jewelry is described and is insured for a specified amount. II. Stamp and coin collections can be insured on a blanket basis

All of the following are types of depreciation except:

A. Economic obsolescence B. External obsolescence C. Physical obsolescence D. Functional obsolescence

A budget contingency of $1 million on a $10 million project means that the project will be planned for a cost of $10 million, but the project organization receives an extra $1 million to guard against unforeseen cost overruns

Indicate whether the statement is true or false