Why are insurance contracts said to be contracts of adhesion?
A) The values exchanged by the parties to the contract are not equal.
B) One party writes the contract, and the other party must accept the entire contract as written.
C) Only one party makes a legally enforceable promise.
D) Conditions are placed on the insurer's promise to perform.
Answer: B
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An email, a handwritten notice, or a voicemail are all examples of __________ in the communication process
a. noise b. the medium c. decoding d. encoding
The Baldwin Company, in its master budget for 2019, predicted total sales of $160,000, variable costs of $48,000, and fixed costs of $52,000 ($24,000 manufacturing and $28,000 nonmanufacturing). Actual sales revenue for 2019 turned out to be $180,000. Actual costs were as follows: variable, $54,000, and fixed, $50,000. (1) What was the total master (static) budget variance for 2019? (Note that this variance is also referred to as the total operating income variance.) (2) Was this total variance favorable (F) or unfavorable (U)?
Total Master (static) Budget Variance: