The nearer a bond's price is to its par value and the longer the maturity of the bond, the more closely the ________ approximates the ________

According to Michael Porter, the suppliers in an industry enjoy bargaining power when ________

A) there are many suppliers to choose from B) their products or services are not differentiated C) their products or services carry low switching costs D) their businesses are not threatened by alternative products

JKL Insurance Company reported the following information on its accounting statements last year:

Premiums Written $90,000,000 Loss Adjustment Expenses $5,000,000 Underwriting Expenses $30,000,000 Premiums Earned $100,000,000 Incurred Losses $70,000,000 What was JKL's loss ratio last year? A) 70.0 percent B) 75.0 percent C) 83.3 percent D) 90.0 percent