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nydimaria [60]
1 year ago
8

Your insurance company can cancel your policy after 60 days for? a. a religious conversion b. being involved in a collision c. f

ailing to make payments d. getting a traffic ticket
Business
1 answer:
gregori [183]1 year ago
6 0

Answer:

C)Failing to make payments

<h3>What is failure to make payments?</h3>
  • Default is the failure to make required interest or principal repayments on a debt, whether that debt is a loan or security.
  • Individuals, businesses, and even countries can default on their debt obligations. Default risk is an important consideration for creditors.

To learn more about it, refer

to brainly.com/question/26386481

#SPJ4

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I make $2,000/month. Of that the government takes $200 in taxes. Then I pay $1,000 for rent, $400 for food, and $200 in utilitie
Musya8 [376]

Answer:

My savings

Explanation:

Savings for a month is the amount left after deducting all my expenditure from my monthly income

Savings = income - total expenditure

income = $2,000

total expenditure = $200 + $1,000 + $400 + $200 = $1,800

Savings = $2,000 - $1,800 = $200

7 0
3 years ago
Mr. Hugh Warner is a very cautious businessman. His supplier offers trade credit terms of 3/19, net 60. Mr. Warner never takes t
vekshin1

Answer:

35.92%

Explanation:

The computation of cost of not taking the cash discount is shown below:-

Discount percentage ÷ (100 - Discount percentage) × (360 ÷ (Full Allowed Payment Days - Discount Days))

= 3% ÷ 97% × 360 ÷ (50 - 19)

=  3% ÷ 97% × 360 ÷ 31

=  0.03093 × 11.61290

= 0.359187

= 35.92%

Therefore for computing Mr. Warner's cost of not taking the cash discount we applied the above formula.

3 0
3 years ago
Uncollectible accounts; allowance method estimating bad debts as percentage of net sales vs. direct write-off method [LO7-5, 7-6
worty [1.4K]

Answer:

1. Bad debt expense = $97,500

2. Accounts receivable written off = $109,500

3. Bad debt expense for 2021 = $109,500

Explanation:

Bad debts expense refers to an uncollectible accounts expense that occurs because goods or services are delivered on credit a company to a customer who did not paid the amount owed.

The questions can be answered as follows:

1. What is bad debt expense for 2021 as a percent of net credit sales?

Under this, bad debt can be calculated using the following formula:

Bad expense = Net credit sales * Estimated bad debt percentage ....... (1)

Where;

Net credit sales = $6,500,000

Estimated bad debt percentage = 1.50%

Substituting the values into equation (1), we have:

Bad debt expense = $6,500,000 * 1.50% = $97,500

2. Assume Ervin makes no other adjustment of bad debt expense during 2021. Determine the amount of accounts receivable written off during 2021.

This can be calculated using the following formula:

Accounts receivable written off = Beginning uncollectible balance + Bad debt expenses - Ending uncollectible balance ............ (2)

Where;

Beginning uncollectible balance = $62,000

Bad debt expenses = $97,500

Ending uncollectible balance = $50,000

Substituting the values into equation (2), we have:

Accounts receivable written off during 2021 = $62,000 + $97,500 - $50,000 = $109,500

3. If the company uses the direct write-off method, what would bad debt expense be for 2021?

Under the direct write-off method, the exact amount of uncollectible accounts as they are specifically identified are recorded.

Based on this explanation, bad debt expense for 2021 is equal to the accounts receivable written off during 2021 calculated in part 2 above. Therefore, we have:

Bad debt expense for 2021 = $109,500

7 0
3 years ago
Most economists believe that prices are:
BaLLatris [955]

Answer: Most economist believe that prices are flexible in the long run but many are sticky in the short run.

Explanation:

Prices are sticky in the short run because producers and buyers take time to adapt to new situations. If there is a shortage of butter, lets say, the economic theory says that the prices will rise because there is less butter ( ceteris paribus = all the other factors remain constant). Actually, buyers and suppliers need time to adapt to the new situation. However, in the long run buyers and suppliers have time to adapt to new situations so prices become more flexible.

8 0
3 years ago
which of the following would most likely have caused the production possibilities frontier to shift outward from a to b? group o
Anna71 [15]

General technological advance is most likely to cause the production possibilities frontier to shift outward from a to b.

Technology has always been vital for organisations, but in recent years, that importance has increased significantly. By definition, technology is the practical application of scientific knowledge, and it is obvious that in order for businesses to remain competitive, they must adopt new technologies. The importance of new technology for organisations can be attributed to a number of factors. First, firms can improve their production and efficiency by utilising modern technologies. This is so that workers may concentrate on other duties because new technologies sometimes automate operations that were previously performed manually. Additionally, by lowering their dependency on costly manual labour, new technology can assist firms in saving money. Finally, firms can frequently access new markets and clients thanks to new technologies.

Learn more about technological advance here:

brainly.com/question/8798227

#SPJ4

8 0
1 year ago
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