Answer:
$3.2 million
Explanation:
The revenue and gross profit or loss which the company identify in the first and second year if it recognizes revenue upon contract completion is calculated below.
Total costs = Incurred costs + estimated costs to complete = $8 million + $12 million = $20 million
Revenue to recognize = $8m/$20m*$28m = $11.2 million
Gross Profit = Revenue recognized less costs incurred
= $11.2m - $8m = $3.2 million
Answer:
Have we inventoried the third party relationships that exist in our organization today?
How are we identifying and tracking new or changing relationships?
Have we assessed and prioritized the risks related to those relationships?
When evaluating new relationships, do our selection criteria address risks to the organization?
Where applicable, do our agreements and contracts include adequate terms and conditions to require third-parties to provide independent assurance to mitigate potential risks, convey trust and confidence, and demonstrate compliance with laws and regulations?
Are responsibilities to manage these risks clearly defined individually for each third-party and as a whole?
Are we monitoring the various risks and contract requirements associated with each existing relationship and at what interval?
Are these relationships dependent on subservice organizations?
How do we gain comfort that information provided by third-parties is valid, accurate, and complete?
Does our risk assessment process identify potential negative events resulting from third party relationships and include procedures in place to respond?
Answer:
True
Explanation:
All PBM´s manuals and third.party payer contracts require that participating pharmacies collect deductibles, copays or coinsurance amounts.
Answer:
$45,000
Explanation:
Value of Franchise will be amortized on its useful life.
Value of Franchise = $50,000
Useful life = 10 years
Amortization as on December 31, 2016 = 50000/10 = $5000
Revenue and Franchise operating cost have nothing to do with the value of Intangible asset and amortization. All of these are operating entering which will be dealt in the income statement instead account for as value of Intangible asset.
Answer: See explanation
Explanation:
1. Yes.
A design defect is when the design for a particular product brings about risk or injury which could have been averted if the design was done in another way.
With regard to the question, there is a design defect as we're informed that the drain cover becomes loose and we're further told that Sta-Rite did not install safety features on its drain pumps.
2. No.
Based on the scenario in the question, the ethical duty wasn't met by Sta-Rite Industries. They neglected the potential injury and harm that their design would cause. This means that they didn't perform their ethical duty well.
3. Yes.
In this case, Sta-Rite has to compensate the affected person and a punitive damage should further be added to whatever compensation had been put in place. This will serve as a way of making others also learn and always do the right thing and be safety conscious.
