In such a scenario the insurer should cancel or repeal the policy by T, deny the claim by the insured and recover all the payments he had made. This is because the cause of fire was not accidental but instead was caused by the insured in order to receive compensation. This is because, for a compensation or a policy to be valid it has to be accidental and not castigated by an individual in order to seek or claim compensation from the insurer.
Answer:
Unitary cost= $62.5
Explanation:
Giving the following information:
Predetermined overhead rate based on direct labor-hours to apply manufacturing overhead to jobs. At the beginning of the year, manufacturing overhead and direct labor-hours for the year were estimated at $50,000 and 20,000 hours.
Materials costs on the job totaled $4,000 and labor costs totaled $1,500 at $5 per hour.
First, we need to determine the allocated MOH:
Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Estimated manufacturing overhead rate= 50000/20000= $2.5 per direct labor hour
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base= 2.5* (1500/5)= $750
Total cost= 4000 + 1500 + 750= $6,250
Unitary cost= 6250/100= $62.5
The risks diagnosed from beyond encounters are inward risks, for example, value danger, plan risk, execution risk, useful gamble, and so forth.
Nevertheless, positive dangers can not be distinguished and connected with dubious economic occasions and are from the place of the mission where there aren't always yet enough records to apprehend what modifications would possibly appear. Such dangers are a) market chance coming from outside contests, mortgage charge changes, credit inaccessibility, unusual trade vacillations, and so forth.
Governance change risks from the corporation's execution on CSR problems, morals, emblem picture, notoriety, and so on. c) legal gamble to abrupt claims, non-compliances, and so on d) Political gamble because of development in authorities strategies, guidelines, change in government itself, and so on.
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Answer:
Discovery of new oil reservoirs and technological developments on oil extraction.
Explanation:
The world has not run out of oil by two reasons. First, the discovery of new oil reservoirs and, second, the development of new technologies that increased extraction efficiency in a feasible way.
Answer:
Net income = $3,560
Explanation:
Romney's Marketing Company
Multi-step income statement
For the Year ended December 31 20YY
Sales revenues 37,250
Less: Cost of goods sold = 0
Gross profit = 37,250
Less: Operating expense:
Wages expense = $19,000
Depreciation expense = $1,750
Utilities expense = $320
Insurance expense = $780
Rent expense = $9,800
Total operating expense = ($31,650)
Add: operating income:
Rent revenue = $560
Total operating income = $6,160
Other operating income
Interest revenue = 160
Net income before taxes = $6,320
Income tax expense = $2,760
Net income = $3,560
