Which of the Following Statements About the Additional Coverages Included

question 42

Multiple Choice

Which of the following statements about the additional coverages included in Section II of the homeowners policy is true?

• A)Damage to property of others is covered only if the insured is legally liable.
• B)Damage to property arising out of a business engaged in by the insured is covered.
• C)Interest that accrues on a judgment after the judgment is awarded but before the judgment is paid is covered under claims expenses.
• D)First aid expenses incurred by the insured for a bodily injury covered under the policy are not covered.

Recognize the strengths and weaknesses of various performance evaluation approaches, including critical incident method and balanced scorecard.

Understand how performance is a function of ability, motivation, and environment.

Discuss the purposes of performance evaluation and strategies for minimizing legal challenges.

Identify effective methods and practices for conducting evaluation interviews and developing objectives within performance evaluation systems.

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Definitions:

Fixed Manufacturing Overhead

The portion of manufacturing overhead costs that remains constant regardless of the level of production or sales volume.

Manufacturing Overhead Budget

An estimation of all manufacturing costs, excluding direct materials and direct labor, planned for a specific period.

Direct Labor-Hours

The cumulative hours that employees engaged in the manufacturing process have completed.

Variable Overhead Rate

The portion of overhead costs that varies directly with production volume, calculated as variable overhead costs divided by a certain measure of activity (e.g., labor hours or machine hours).