Based in the historical cost principle, the total cost of
the land would be the summation of all cost, either direct or indirect.
Therefore it would be:
Cost of Land = $90,000 cash + $5,000 commission + $7,000
demolishing
Cost of Land = $102,000
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Answer: a. Only one policy will pay, the premiums for the other contracts will be returned.
Explanation:
When there are multiple insurance contracts from the same insurer and these contracts have a ''Other Insurance With This Insurer'' provision, it means that in cases where the insured wants to claim, they can choose whichever of the policies they want and that one will pay out but they cannot pick them all.
The premiums paid on the other contracts/s will be returned to the insured because it represents excess coverage.
Answer:
D
Explanation:
customer must be sent a copy of the official statement, if available
Answer:
Production opportunities, time preferences for consumption, risk, inflation. Explanation: The cost of money is the interest rate that lenders charge borrowers, and is determined by the supply and demand of funds.
