It is more costly to create a more realistic simulation than one that is less realistic
Indicate whether the statement is true or false.
Answer: TRUE
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Chris applied for life insurance and paid the first premium on Monday
She was given an insurability premium receipt which specified that coverage was effective on the date of the application or the date of the medical exam, whichever is later. She took the medical exam the following Thursday. She was found to be in perfect health. On which day was her coverage effective? A) on Monday, when she completed the application and paid the first premium B) on Wednesday, two days after completing the application and paying the first premium C) on Thursday when she passed the medical exam D) on Saturday, two days after passing the medical exam
When two proprietors decide to combine their businesses, generally accepted accounting principles usually require that noncash assets be taken over at their
a. historical cost value as of the date of formation. b. fair market value as of the date of formation. c. book value as of the date of formation. d. residual value as of the date of formation.