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2 years ago

A provision stating that the insurer cannot dispute the validity of a policy after a specific period is called a(n) ______.

1 answer:

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Incontestability clause - This tells us the insurance company may not contest the validity of the policy during the insured's lifetime for any reason, including fraud, if the policy has been in effect for a predetermined duration

What is incontestability clause?

An incontestability clause in a life insurance policy safeguards the policyholder and forbids the insurer from changing any aspect of the insurance coverage as a result of a misinterpretation or false statements made by the insured (the policyholder) after a certain amount of time. A life insurance policy's provider cannot revoke any statement after a specified period of time thanks to an incontestability provision. This provision is frequently regarded as offering policyholders the most robust defense.

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The way Professor Quinn chose to handle this situation illustrates the difficulty of dealing with ethics violations. Listed as f

alisha [4.7K]

Answer:

Establishing a code of ethics
Referring ethical dilemmas to an ethics committee

<u>Explanation:</u>

Consider, by establishing a code of ethics it allows corporations to prevent their employees from making excuses for any ethical violation. Furthermore, when referring ethical dilemmas to an ethics committee is made available to employees by corporations it allows their employees to easily get the right information about how to behave ethically.

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3 years ago

According to the "marketing rules" we discussed in class, if you cannot be first in a product category, Group of answer choices

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Answer:

B) change your promotional campaign

Explanation:

A company should advertise that it is the no.1 selling product X in the market

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3 years ago

During 2004, ABC Company had $750,000 of net credit sales. Accounts Receivable had a December 31, 2004, balance of $250,000.

eimsori [14]

Answer:

c. $24,500

Explanation:

The allowance for doubtful accounts is a contra-asset account that records the amount of receivables expected to be uncollectiblea, makes a reduction of the total amount of accounts receivable appearing on a company’s balance sheet. There are two way to estimate uncollectible accounts: the percentage of sales method and the accounts receivable aging method.

ABC Company uses the percentage of sales method - application a flat percentage to the total amount of net credit sales for the period.

Estimated uncollectible = 3% x $750,000 = $22,500

The company establishes an allowance for doubtful accounts for $22,500 while simultaneously reporting $22,500 in bad debt expense.

Before adjusting on December 31, 2004, the Allowance for Doubtful Accounts had a credit balance of $2,000.

The balance in the allowance for doubtful accounts after adjustment is $22,500 + $2,000 = $24,500

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3 years ago

An auto manufacturer sends cars from two plants, I and II, to dealerships A and B located in a mid-western city. Plant I has a t

Elis [28]

Answer:

Total transportation cost = 23,750

Explanation:

We can calculate how many cars should be sent from each plant to each dealer as follows

DATA

Plant 1 cars = 74

Plant 2 cars = 70

Demand

Dealer A needs 79 cars

dealer B needs 65

Shipping costs are

$300 per car from plant I to dealer A,

$130 per car from plant I to dealer B,

$180 per car from plant II to dealer A

$160 per car from plant II to dealer B.

limit total shipping costs to exactly $29,900

Start from the cheapest

$130 per car from plant I to dealer B.

$130 x 65 = 8,450

$180 per car from plant II to dealer A

$180 x 70 = 12,600

$300 per car from plant I to dealer A,

$300 x 9 = 2700

Total transportation cost = 8,450 + 12,600 + 2700

Total transportation cost = 23,750

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4 years ago

In contrast to goods and services markets, _____________ are rare in labor markets, because rules that prevent people from earni

Anestetic [448]

Answer:

price ceilings

Explanation:

In contrast to goods and services markets, <u>price ceilings</u> are rare in labor markets, because rules that prevent people from earning income are not politically popular.

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3 years ago