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DSST Things to know_Intro to Business

A firm buys a new machine on credit for 17000 with

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40. A firm buys a new machine on credit for $17,000 with terms 2/10, n/30. The firm pays for the machine in seven days. Which of the following amounts was the firm was required to pay? (A) $340 (B) $13,600 (C) $16,660 (D) $17,000 41. Which of the following directly reduces a firm’s retained earnings account? 42. Which of the following is NOT an advantage of investing in a mutual fund? 43. An investor places an order to buy 250 shares of stock but is unwilling to pay more than $65 per share. Which of the following best describes this type of order? 44. Which of the following types of market is best described by a market situation that reflects rising prices? (A) Bear (B) Bull (C) Primary (D) Liquid 45. A manager has been given raw data and needs to make it usable information. Which of the following activities must the manager undertake? 46. A large corporation has an interconnected system of computers connected to a mainframe. This configuration is best described as
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47. Amortization applies to which of the following? 48. Insurance offers protection from which of the following types of risk? (A) Pure (B) Determined (C) Manageable (D) Speculative INTRODUCTION TO BUSINESS 182 Dantes/DSST Program 49. Which of the following are necessary in order to collect insurance on a loss? I. The loss must be under the control of the insured. II. The probability of loss must be predictable. III. The loss must be measurable. 50. The value of an insured house is $125,000, and the insurance policy includes a 75 percent coinsurance clause. Which of the following is the amount of insurance the homeowner must carry to satisfy the clause? 51. The main difference between robbery and burglary is 52. Which of the following types of insurance is legally required in most states? (A) Automobile liability (B) Uninsured motorists (C) Automobile collision (D) No-fault automobile
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