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Sauron [17]
3 years ago
9

GavelCo Insurance sells an insurance policy to Barry in the state of Colorado. GavelCo violates a Colorado state statute when do

ing so. Later Barry gets into a dispute with GavelCo over coverage of the insurance policy and wants to enforce the insurance contract. The insurance contract will be:
Business
1 answer:
dimulka [17.4K]3 years ago
8 0

Answer:

enforceable by Barry, the purchaser, and he can recover from the insurer if applicable.

Explanation:

GavelCo has violated a statute when it sold the insurance policy to Barry in Colorado. If due to this failing on the part of GavelCo Barry has an issue with the insurance coverage, he has a right to enforce the insurance contract on GavelCo.

If there is a coverage he is entitled to he can recover it from GavelCo.

Even when an insurer violates a statute when issuing insurance, the purchaser can still recover from the insurer.

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Green Corporation has current earnings and profits of $100,000 and negative accumulated earnings and profits of ($200,000). A $5
Sphinxa [80]

Answer:

False

Explanation:

Green's distribution of $50,000 in to its sole shareholder at the end of the year should be treated as a dividend because Green's total earnings and profits for the year were $100,000.

A distribution from a corporation to a shareholder  can only be treated as a dividend when the corporation made a profit during the current year, or has positive accumulated earnings and profits.

5 0
3 years ago
The relevant range is that range of activity: Group of answer choices where a company achieves its maximum efficiency. where uni
Vikki [24]

Answer: where management expects the firm to operate.

Explanation:

Company planning is the duty of management and and they plan, they try to use a certain range of activity so that they can better predict how the company will go. That range is therefore the range that the management of the company expects the firm to operate.

When production actually starts, management will try to either keep to that range or exceed it so as to meet or exceed expectations. And even if they don't meet this expectation, they use this relevant range to compare to the actual range for performance evaluation.

4 0
3 years ago
Phoenix Agency leases office space for $7,000 per month. On January 3, Phoenix incurs $65,000 to improve the leased office space
Daniel [21]

Answer:

correct option is $13,000

Explanation:

given data

leases office = $7,000 per month

Phoenix incurs = $65,000

yield benefits = 8 years

remaining on its lease = 5 years

solution

we know that The cost of leasehold improvement is depreciate whichever is less    

(a)  Remaining Lease Term      

(b) estimated useful life of improvement

so Annual depreciation of Leasehold Improvement will be here

Annual depreciation of Leasehold Improvement = \frac{65000}{5}

Annual depreciation of Leasehold Improvement = $13,000

so correct option is $13,000

4 0
3 years ago
3+4 whlskfjsdalfkjdlfkasdjflskjfdslkfjflkajfa
slega [8]
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6 0
3 years ago
If capacity is expensive and inventory is cheap, a good reason to hold inventory is to level load capacity by using inventory as
Ber [7]

If capacity is expensive and inventory is cheap, a good reason to hold inventory is to level load capacity by using inventory as a buffer between demand variability and capacity utilization-<u>The statement is true</u>

Explanation:

<u>Capacity management</u>  can be defined as the act of management to ensure maximization of the product output and the potential activities associated with  production,under all the given circumstances

The<u> capacity of a business measures</u> how much the business  can achieve, produce, or sell within a given time period.It refers to the maximum output rate  a company can produce

<u>Load capacity</u> is use to define the  maximum demand, stress, or load that can  be placed/leveled  on a given system under normal or specified conditions for an extended period of time.

4 0
3 years ago
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