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max2010maxim [7]
2 years ago
14

Jerry is an adjuster and has signed a contract with ABC Insurance to adjust claims in an area recently devastated by a hurricane

. Jerry receives the claims from ABC Insurance, completes the inspections, and settles claims on behalf of ABC Insurance according to his contract. What type of authority has ABC Insurance given Jerry
Business
1 answer:
const2013 [10]2 years ago
3 0

The authority that Jerry has which allows him to complete inspections and settle claims is called an Express authority.

<h3>What is express authority?</h3>

This is a kind of authority that an agent has that is clearly spelled out in writing or given orally.

Jerry has a contract with ABC Insurance that writes what he is allowed to so which means that his powers are expressly given.

Find out more on express authority at brainly.com/question/15008947.

#SPJ12

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ABC Company listed the following data for the current year:
RideAnS [48]

Answer:

$10,800 underapplied

Explanation:

Calculation for If overhead is applied based on machine hours, the overapplied/underapplied overhead is:

Overhead machine hours=[($1,044,000/24,000)×23,600]-1,037,400

Overhead machine hours=($43.50 x 23,600) - 1,037,400

Overhead machine hours=$1,026,600- 1,037,400

Overhead machine hours= $10,800 underapplied

Therefore If overhead is applied based on machine hours, the overapplied/underapplied overhead is:$10,800 underapplied

5 0
3 years ago
A company purchased $6,500 of merchandise on May 1 with terms of 2/10, net 30. On May 6, it returned $500 of that merchandise. O
viktelen [127]

Answer:

The cash paid on May 8 is: $5,880

Explanation:

Credit terms of 2/10, net 30 means that 2% discount for the payment within 10 days and the full amount to be paid within 30 days.

The company purchased $6,500 of merchandise on May 1. On May 6, it returned $500 of that merchandise.

The balance owed for merchandise = $6,500 - $500 = $6,000

On May 8, it paid the balance owed for merchandise, taking any discount it is entitled to.

The company took the appropriate discount:

2% x $6,000 = $120

The cash paid = $6,000 - $120 = $5,880

5 0
3 years ago
Diamond Company has three product lines, A, B, and C. The following financial information is available:
const2013 [10]

Answer:

e. Increase by $4,500.

Explanation:

<u>Analysis of the effect of discontinuing Product Line C</u>

Income :

Rent Income                                                    $6,000

Savings : Fixed Costs - Avoidable                 $3,000

Total Income                                                   $9,000

Costs :

Opportunity Cost - Contribution Margin       $4,500

Total Costs                                                      $4,500

Net Income (Loss)                                           $4,500

therefore,

By discontinuing Product Line C, operating income for the company will likely  Increase by $4,500

5 0
3 years ago
Explain importance of office resources in points.​
xenn [34]

Answer:

A question is an utterance which typically functions as a request for information, which is expected to be provided in the form of an answer. Questions can thus be understood as a kind of illocutionary act in the field of pragmatics or as special kinds of propositions in frameworks of formal semantics such as alternative semantics or inquisitive semantics. Questions are often conflated with interrogatives, which are the grammatical forms typically used to achieve them. Rhetorical questions, for example, are interrogative in form but may not be considered true questions as they are not expected to be answered.

6 0
3 years ago
Read 2 more answers
Is the yield to maturity on a bond the same thing as the required return? Is YTM the same thing as the coupon rate? Suppose toda
polet [3.4K]

Answer:

1) The yield to maturity is required rate of return on a bond expressed as a nominal annual interest rate. For noncallable bonds, the yield to maturity and required rate of returns are interchangeable terms

2) Unlike YTM and required return, the coupon rate used as the interest rate in bond cash flow valuation, but is fixed percentage of par over the life of the bond used to set the coupon payment amount.

3) The coupon rate is constant at 10%. The YTM is 8%.

Explanation:

5 0
3 years ago
Read 2 more answers
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