A private brand is a brand name developed by a wholesaler or retailer for their product
Indicate whether the statement is true or false.
Answer: TRUE
Explanation: A private brand is created when a wholesaler or retailer develops a brand name and has a manufacturer put it on a product. An example is Sears, which carries the brand of Kenmore appliances.
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All of the following statements regarding a hospital indemnity plan are correct EXCEPT
A) another name for the plan is a hospital expense plan B) the plan pays a flat dollar amount as a daily benefit each day the insured is hospitalized C) payment is made directly to the insured, not the insurer D) the benefits from the policy may be used toward deductibles and coinsurance payments
Which of the following is a true statement about the domestic production activities deduction?
A. This deduction is determined by the amount of goods manufactured in the United States for export abroad. B. The deduction is calculated as a percentage of the cost of goods manufactured in the United States. C. This deduction represents a subsidy to taxpayers who manufacture or construct goods in the United States. D. The domestic production activities deduction is not affected by the cost of labor. E. All of these are true.