1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
____ [38]
3 years ago
11

An insurance contract must comply with the "Principle of Indemnity". Jarron's friend Nick, accidentally destroys Jarron's laptop

computer. Nick pays Jarron for the damage, but Jarron also submits a claim to his insurance company for the laptop. The claim will be:
a. Paid, the fact that Jarron has already been paid for the damage has no bearing on the insurance company's obligation to pay.b. Denied because Jarron has already been paid for the damage.c. Paid, but only at 50% of the limit of liability.d. Denied because the damage was caused by a friend and not the insured.
Business
1 answer:
Snezhnost [94]3 years ago
6 0

Answer:

B) Denied because Jarron has already been paid for the damage.

Explanation:

If the insurance company somehow found out that Nick already paid Jarron for the damage, then they don't have any duty to pay Jarron.

It is even possible for a person to have two different insurance policies for the same asset, but in case you have some type of accident, only one of them will pay you.

The principle of indemnity state that in case of a loss, the insured should be put back to the same position as before the loss occurred. An insured should not be able to make money due to a loss.

You might be interested in
4. Consider the game of chicken. Two players drive their cars down the center of the road directly at each other. Each player ch
IrinaVladis [17]

Complete question:

Consider the game of chicken. Two players drive their cars down the center of the road directly at each other. Each player chooses SWERVE or STAY. Staying wins you the admiration of your peers (a big payoff) only if the other player swerves. Swerving loses face if the other player stays. However, clearly, the worst output is for both players to stay! Specifically, consider the following payouts. Player two Stay swervePlayer one stay -6 -6 2 -2 swerve -2 2 1 1

a) Does either player have a dominant strategy?

b) Suppose that Player B has adopted the strategy of Staying 1/5 of the time and  swerving 4/5 of the time. Show that Player A is indifferent between swerving and staying.

c) If both player A and Player B use this probability mix, what is the chance that  they crash?

Explanation:

a. There is no dominant strategy for either player. Suppose two players agree to live. Then the best answer for the player is to swerve(-6 versus -2).  Yet if the player turns two, the player will remain one (2 vs 1).  

b. Player B must be shown to be indifferent among swerving and staying if it implements a policy (stay= 1⁄4, swerving= 5/4).

When we quantify a predicted award on the stay / swerving of Player A, we get

E(stay)= (1/5)(-6)+ (4/5)(2)= 2/5 E(swerve)= (1/5)(-2)  

c. They both remain 1/5 of the time. The risk of a crash (rest, stay) is therefore (1/5)(1/5)= 1/25= 4%

4 0
2 years ago
Lang Warehouses borrowed $178,960 from a bank and signed a note requiring 8 annual payments of $28,819 beginning one year from t
yan [13]

Answer: 6%

Explanation:

The annual payments can be considered to be annuity payments as they are constant. The amount borrowed can be considered the present value of the annuity.

Present value of annuity = Annuity * Present value interest factor of annuity, 8 years, %?

178,960 = 28,819 * Annuity factor

Annuity factor = 178,960 / 28,819

= 6.20979

To find out the interest rate, look at the Present Value of Annuity table and go to the 8 period column. Look for 6.20979. The interest rate that intersects with this factor is the interest rate implicit in this agreement.

That rate is 6%.

4 0
2 years ago
Capital assets used by an enterprise fund should be accounted for in the a. Business-type activities journal but no depreciation
Diano4ka-milaya [45]

Answer:

b. Enterprise fund and depreciation on the capital assets should be recorded.

Explanation:

Cash flow can be defined as the net amount of cash and cash- equivalents that is flowing into (received) and out (given) of a business. There are three components of the cash flow;

1. Operating cash flow: all cash generated from the business activities of an organization.

2. Financing cash flow: all payments made by an organization and profits from issuance of debts and equity.

3. Investing cash flow: costs associated with purchasing of capital assets and investments of cash resources in other businesses.

Capital assets used by an enterprise fund should be accounted for in the enterprise fund and depreciation on the capital assets should be recorded.

Additionally, depreciation can be defined as the reduction of cost of a fixed asset systematically until the value of the asset becomes zero.

4 0
3 years ago
True or false. hospital bylaws define the process for documentation within a health record for all members of the workforce.
solong [7]
The statement is "True".

<span>Hospital medical staff by-laws are critical. Governing board of a hospital can by them confers on the staff the ability to set up a type of association by which that staff can give affirmation of quality clinic medicinal care.</span>

4 0
2 years ago
Do you think scientific management made business more successful
Sati [7]
<span>Scientific management has evidently made business operations and efficiencies far more successful in their strategies and processes, due to the ability to quantify specific data sets and analyze this information to understand how best to implement a more effective and growing strategy.</span>
5 0
2 years ago
Read 2 more answers
Other questions:
  • Healthy Foods just paid its annual dividend of $1.62 a share. The firm recently announced that all future dividends will be incr
    8·1 answer
  • What are the characteristics of the best circular flow of income?
    5·1 answer
  • "925,000" jackson county senior services is a nonprofit organization devoted to providing essential services to seniors who live
    12·1 answer
  • You want to buy a new car, but you can make an initial payment of only $2,400 and can afford monthly payments of at most $500. a
    7·1 answer
  • _____________________ argues that the productivity of workers will increase if they are paid more, and so employers will often f
    9·1 answer
  • Beam Satellite Network has decided to offer a one-hour appointment window for customers needing installation or repair of its se
    13·1 answer
  • In the circular flow of funds, what is the role of banks?
    10·1 answer
  • There are a number of specific steps in the appraisal process. What is the final step?
    6·1 answer
  • True or false:
    10·1 answer
  • Logistics means creating an efficient assembly line.<br> A. <br> True<br> B. <br> False
    14·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!