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2 years ago

In an insurance contract, the person buying the insurance is called the

2 answers:

6 0

True explanation: one you have bought insurance you are insured to a house life plan etc, they company you bought the insurance from is the insurer because they are giving you the insurance

Natalka [10]2 years ago

6 0

This is A: true because when you buy the insurance you’re the insured and the person giving the insurance is the insurer

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A small assembly line currently produces 8000 widgets per week. Assume that there are two inputs: labor and materials. There are

Ostrovityanka [42]

Answer: 1 widget per dollar

Explanation:

The weekly productivity level for this operation will be calculated thus:

Output = 8000 widgets per week.

Input = Labor Cost + Material Cost

= (5 × 40 × $15) + (100 × $50)

= $3000 + $5000

= $8000

Productivity = Output / Input

= $8000 / $8000

= 1 widget per dollar

5 0

3 years ago

How can businesses addressing unemployment?

vfiekz [6]

Small businesses are actually the major engine of the economy, especially now that much of our manufacturing jobs have moved overseas, so they play a crucial role in employment.

8 0

3 years ago

The expenditure approach to GDP is a calculation that separates output by each of the _________ major sectors of an economy.

Troyanec [42]

Answer:

Explanation:

Gross domestic product is the sum of all final goods and services produced in an economy within a given period.

GDP calculated using the expenditure approach: GDP = Consumption spending by households + Government Spending + investment by business + Net Export.

I hope my answer helps you.

8 0

3 years ago

Meir, Benson and Lau are partners and share income and loss in a 3:2:5 ratio. The partnership's capital balances are as follows:

sertanlavr [38]

Answer:

Journal Entry

a) Debit Capital- Benson $138,000 Credit Capital-North $138,000

b) Debit Capital- Benson $138,000 Credit Capital-Schmidt $138,000

c) Debit Capital-Benson $138,000 Credit Bank $138,000

d) Debit Capital-Benson $138,000 Debit Capital-Meir $28,500 Debit Capital-Lau $47,500 Credit Bank $214,000

e) Debit Capital-Benson $138,000 Debit Accumulated Depreciation $23,000 Credit Cash $30,000 Credit Equipment $70,000 Credit Capital-Meir $22,875 Credit Capital-Lau $38,125

Explanation:

a and b are the same with the same amount of capital transferred from one partner to another partner, it is just a matter of derecognizing Benson and recognize North or Schmidt.

c) Partner Benson is paid cash her capital,

d) decrease in meir's Capital = 214,000-138,000 = 76,000*3/8= $28,500

Decrease in Lau's Capital Account = $76,000 5/8 = 47,500

Excess funds are taken from capitals or income summary account of the partnership which will affect the capitals of the remaining partners

e) Meir's Capital = $138,000 -(70,000-23,000+30,000)

= $138,000-77,000

= $61,000*3/8 =$22,875

Lau = $61,000*5/8 =38,125

The Capital Accounts of the remaining partners will increase because of the gain made on buying out the leaving partner.

8 0

4 years ago

Heidi quit her job as a chef making $40,000 per year to start her own restaurant. The first year, Heidi's restaurant earned $100

Murrr4er [49]

Answer:

The accounting profit is $30,000.

Explanation:

The implicit cost of running the restaurant is the opportunity cost of giving up a salary of $40,000 per year working as a chef.

The revenue earned from the restaurant is $100,000.

The explicit costs is

= $50,000 + $20,000

= $70,000

An accountant will consider only the accounting cost or explicit cost in the calculation of profits.

Accounting profit

= Total revenue - Explicit costs

= $100,000 - $70,000

= $30,000

3 0

3 years ago