Samiya purchased a $500,000 life policy from LHC Insurance Company at the age of 35. At her death the insurance company discovered that her primary beneficiary was older than Samiya had stated on the application. How much will Samiya's beneficiary receive?

The Allowance for Doubtful Accounts is necessary because

a. when recording uncollectible accounts expense, it is not possible to know which specific accounts will not pay. b. uncollectible accounts that are written off must be accumulated in a separate account. c. a liability results when a credit sale is made. d. management needs to accumulate all the credit losses over the years.

Based on the information provided in the case, which of the following corporate disclosures could investment professionals use evaluate the quality of the corporate governance system at AMC?

A) Inclusion of all vague references to off-balance sheet or insider transactions in board minutes B) Failure to disclose executive perquisites such as the use of the corporate jets by senior management. C) Provide other compensation that has not been disclosed to investment analysts.