Ahospital estimates that, based on past experience, it will incur $5 million in malpractice claims as a result of services rendered in the current period. the hospital carries a malpractice insurance policy with a yearly $2 million deductible clause. the amount that should appear on its year-end financial statement as claims expense (loss) should be (a) $0.(b) $2 million.(c) $3 million.(d) $5 million.

Which of the following statements is not correct? 1) trade allows for specialization. 2) trade has the potential to benefit all nations. 3) trade allows nations to consume outside of their production possibilities curves. 4) absolute advantage is the driving force of specialization.

Which of the following statements is true? a job costing system will have a separate work in process account for each of the major processes. a process costing system will have a single work in process account. a process costing system will have a separate raw materials account for each of the major processes. a process costing system will have a separate work in process account for each of the major processes.

Suppose that in an economy the structural unemployment rate is 2.2 percent, the natural unemployment rate is 5.3 percent, and the cyclical unemployment rate is 2 percent. the frictional unemployment rate is percent and the actual unemployment rate (in this economy) is percent.