Which is NOT an important test of a fixture?

The units-of-production approach to depreciation is appropriate when depreciation is a function of time instead of activity.

a. true b. false

John would like to start a business raising race horses. When he inquired about insurance coverage for race horses, he learned that none of the insurers operating in his state sell that particular type of coverage. In his state, insurance on race horses would be described as a(n):

(a) monoline (b) expired line (c) surplus line (d) multiple line