All of the following statements about yacht insurance are true EXCEPT
A) Property damage coverage includes damage from insects, weathering, and wear and tear.
B) Liability coverage includes the cost of raising, removing, or destroying a sunken or wrecked yacht.
C) Coverage can be added for maritime workers covered by the United States Longshoremen and Harbor Workers Compensation Act.
D) Medical payments coverage pays for medical expenses because of accidental bodily injury.
Answer: A
You might also like to view...
Under a standard cost system, the journal entry to record direct labor includes ________
A) a debit for standard direct labor quantity for actual production times standard direct labor cost per hour B) a credit for standard quantity usage for actual production times actual cost per hour C) a debit for actual quantity times standard cost per hour D) a credit for standard quantity for actual production times standard cost per hour
In order to estimate industry market potential, managers most likely require ________
A) market size and growth rates specific to the industry B) manufacturing specifications and production output C) anticipated improvements within public infrastructure D) expected long-term IT needs and e-commerce trends