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1 year ago

Which of the following is a benefit of insurance?.

1 answer:

8 0

The ability to receive compensation for losses is insurance's most obvious and crucial benefit. An insurance strategy is a policy used to reimburse people and associations for covered misfortunes.

What is an advantage of having insurance?

By shielding you from potential financial losses or liabilities brought on by unanticipated occurrences, insurance primarily serves to preserve your current wealth.

Describe three advantages of term insurance.

The advantages of purchasing term insurance include the ones listed below: Affordable Premium for a Large Guaranteed Sum. Simple to comprehend. Numerous Options for Paying Out Death Benefits.

Insurance serves a number of purposes, including risk sharing, capital formation, economic development, and other things. Insurance has nothing to do with loans.

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In which business organizations will all the owners be allowed to manage or control the entity while enjoying limited liability?

barxatty [35]

Answer:

The Corporation and Partnership forms of business.

Explanation:

In Limited Liability the profits and losses are transferred to owners without Taxation and there is a shield of personal liability is also available.

5 0

3 years ago

Latoya filed her tax return on february 10th this year. when will the statute of limitations expire for this tax return if latoy

melomori [17]

The statute of limitations generally ends three years from the laterof (i) the date the tax return was actually filed (3 years from February 10th of this year) or (ii) the tax return’s original due date (3 years from April 15th of this year).Accordingly,Latoya’s statute of limitations for the tax return will end 3 years from April 15th.

6 0

3 years ago

Identify the principle of internal control to each of the following cases. 1. Cash is locked in a safe overnight. 2. Employees w

iVinArrow [24]

Answer:

1. Physical control

2. Segregation of duties

3. Documentation

4. Physical control

5. Authorization

Explanation:

1. Cash is locked in a safe overnight.

Principle of internal control: Physical control

Physical control: Only authorized persons should have access to certain assets.

2. Employees who receive shipments of goods do not have access to the accounting records for merchandise.

Principle of internal control: Segregation of duties

Segregation of duties: There should be different personnel for different aspects of the transactions.

3. Shipping documents are pre-numbered.

Principle of internal control: Documentation

Documentation: Proper documentation should be maintained for the transactions.

4. The bookkeeper does not have physical custody of assets:

Principle of internal control: Physical control

Physical control: Only authorized persons should have access to certain assets.

5. Only the treasurer of the company can sign checks.

Principle of internal control: Authorization

Authorization: The transactions are authorized by the responsible/authorized persons.

3 0

3 years ago

Mainline Produce Corporation acquired all the outstanding common stock of Iceberg Lettuce Corporation for $35,000,000 in cash. T

Nostrana [21]

Answer:

$8,000,000

Explanation:

The computation of the amount paid for goodwill is shown below:

= Cash Consideration paid - Fair value of net assets received

where,

Cash consideration is $35,000,000

And, the fair value of net assets is

= Fair value of property plant and equipment + fair value of other assets + fair value of current assets - fair value of current liabilities - fair value of long term liabilities

= $26,400,000 + $2,600,000 + $13,000,000 - $6,000,000 - $9,000,000

= $27,000,000

So, the amount paid to goodwill is

= $35,000,000 - $27,000,000

= $8,000,000

We simply applied the above formula

The net asset is

= Total assets - total liabilities

And, the same is applied above

6 0

3 years ago

What does a family feel like (I was left behind)

BabaBlast [244]

Answer:

what

Explanation:

3 0

2 years ago