Answer:
The personal umbrella policy is excess liability insurance that provides protection against legal liability that is over and above that provided by auto, home, and boat insurance. People with significant assets need an umbrella liability policy to cover lawsuits that can sometimes amount to millions of dollars.
The umbrella policy also has broad coverage that covers some claims that wouldn't be covered at all by home and auto insurance, such as personal injury lawsuits arising from false arrest, slander and libel, or rental units that the insured may own. Not only is the cost of direct damages covered, but also the cost of consequential damages, such as the lost income suffered by a severely injured person because of the injuries. The personal umbrella policy also pays for the legal defense of lawsuits that is in addition to the policy limit for damages. So if you are sued and held liable for $1 million, and your legal costs are $200,000, then a policy providing $1 million of coverage will pay the full claim plus the $200,000 for legal costs.
Explanation:
Answer: a) Debit to Office Supplies for $81.
Explanation:
Office Supplies of $81 were used in the month of September. When replenishing the fund, this asset will be accounted for by being debited and cash will be credited to reflect the reason the cash account is being reduced.
The Journal entry for the replenishment will be;
DR Office supplies Account ......................................$81
DR Merchandise inventory Account ........................$153
DR Misc. expense Account........................................ $30
CR Cash account ......................................................................$264
Answer:
Access management
Explanation:
The "access management" component deals with the management and control of the ways entities are granted access to resources.
Access management regulates the ways and methods entities are granted access to resources. It determines which user is able to access the resources.
Answer:
Letter B is correct
Explanation:
Segregation of duties occurs when duties and responsibilities are separated between employees of an organization. There are functions within a company where segregation is most common, usually in positions that require special permits, approvals, reviews, and registrations which is what happens in the matter. It is used to prevent conflicts between personal interests, mistakes and fraud.
Answer:
c) 108,000 dollars
Explanation:
Buy option:
Purchase: 40,000 motors at 25.15 = 1,006,000
unavoidable fixed cost: 40,000 x 4.60 = 184,000
1,190,000.00
Produce option:
Manufacturing Cost (9.9 + 8.9 + 3.65) x 40,000 = 898,000.00
Fixed cost: 184,000.00
Total Cost 1,082,000.00
Differential: 1,190,000 - 1,082,000.00 = 108,000.00
It is advantageous to continue the production as the unavoidable cost will make the buy option a worse deal
