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____ [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.

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Samantha put $18,500 into a savings account. after one month, the savings account grew to $18,962.50. after the second month, it
Readme [11.4K]

Answer: $24,747.92  

Based on the given amounts of increased in savings for the first 3 months, we have the following assumptions:

1) That the savings increase by 2.44% monthly

$18,962.50 -18,500=462.50, 462.50/18962*100=2.44%

$19,436.56--$18,962.50=$474.06, 474.06/19,436.56*100=2.44%

$19,922.48-$19,436.56=485.92, 485.92/19,922.48*100=2.44%

2) That the monthly interest for the first 3 months had an incremental of $0.30 monthly

462.50,474.06 and 485.92 has an incremental of 11.56 and 11.86 (with a difference of .30)

Continuing on with the increments gives savings of $24,747.92 in the 12th month.

4 0
4 years ago
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Late in the​ semester, a friend tells​ you, ​"I was going to drop my psychology course so I could concentrate on my other​ cours
NISA [10]

Answer:

Your friend is not reasoning correctly

Explanation:

I'd say, since he admit to putting so much time and effort into psychology, there's simply no need to drop the course. So therefore, your friend is incorrectly reasoning.  

6 0
4 years ago
listen here lads i need a sonnet about food or cars or sports or video games mainly rocket league o cod
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Answer:

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Explanation:

7 0
3 years ago
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Fall protection, confined space entry procedures, controlled noise levels, and protection from chemical hazards are some of the
Kruka [31]

The answer is: A.Healthful

A workplace would be categorized as 'healthful'  if it is designed to ensure the health and wellness of the people that work on the site.  

In united states, all of the safety requirement in the workplace is being overlooked by an organization called Occupational Safety and Health Administration. They create list of requirements that must be followed by employers and conduct daily investigation to ensure that all workplaces that operate maintain a healthful standard.

4 0
3 years ago
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tulip Co. owns 100% of Daisy Co.'s outstanding common stock. Tulip's cost of goods sold for the year totals $600,000, and Daisy'
olasank [31]

Answer:

Cost of goods sold to be reported in  consolidated financial statement = $1,000,000

Explanation:

Whenever there is 100% or more than 50% holding in a company, then equity method is followed under which all of the items are to be consolidated, but in case where there are inter transfers that is transfer from holding to subsidiary or vice-versa then such transactions, profit not realized is to be eliminated.

In case where inventory is transferred to subsidiary after adding profit by holding company, then in case if that inventory is sold to third party by year end then entire profit is recognized even the profit added by holding to cost of goods sold to subsidiary.

Where in case such inventory is not sold further by subsidiary to third party and is still held in the stock then such profit added on sale by holding to subsidiary is eliminated.

In our case the entire inventory is sold to third party by the year end.

Therefore, entire profit will be recognized and cost of goods sold to be shown in consolidated financial statements = $600,000 + $400,000 = $1,000,000.

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3 years ago
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