7. Assume this policy has a deductible of $1,000 and a coverage limit of $15,000. If there are personal property losses of $7,000 for a covered event, which best describes how much both parties pay?
a. Insured person pays $0; insurance company pays $7,000
b. Insured person pays $1,000; insurance company pays $6,000
C. Insured person pays $1,000; insurance company pays $7,000
d. Insured person pays $1,000; insurance company pays $15,000

Which of the following statements is correct? large corporations are taxed more favorably than sole proprietorships. corporate stockholders are exposed to unlimited liability. due to limited liability, unlimited lives, and ease of ownership transfer, the vast majority of u.s. businesses (in terms of number of businesses) are organized as corporations. most businesses (by number and total dollar sales) are organized as partnerships or proprietorships because it is easier to set up and operate in one of these forms rather than as a corporation. however, if the business gets very large, it becomes advantageous to convert to a corporation, mainly because corporations have important tax advantages over proprietorships and partnerships. most business (measured by dollar sales) is conducted by corporations in spite of large corporations’ often less favorable tax treatment, due to legal considerations related to ownership transfers and limited liability.

If the findings and the results are not presented properly, the research completed was a waste of time and money. true false

What type of budget is stated? a budget is a type of financial report that scrutinizes the inflow and outflow of money in a given financial year.