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Ray Of Light [21]
3 years ago
13

What is the primary way in which insurance allows you to be covered for a loss, even if you haven't had it for very long?

Business
2 answers:
natka813 [3]3 years ago
5 0

 

 

<u>Option C is correct. The primary way in which insurance allows you to be covered for a loss, even if you have not had it very long in which you share the risk with others. </u>

Further Explanation:

Insurance:

Insurance means the amount paid now can be used for the future miss happening occur. The insurance company paid the amount of loss that may have occurred. The amount of insurance premium depends on the types of insurance whether it is health insurance and property insurance.  

Justification for the correct and incorrect answer:

A.

You get money from them: This option is incorrect.

If the individual does not have taken insurance policy, he is not able to get money from them. This statement is incorrect.

B.

You pay more money later: This option is incorrect.

Insurance has been taken before the loss occurred, not after the loss occurred. The amount of premium paid before the loss occurred. This option is incorrect.

C.

You share the risks with others: This option is correct.

When you do not have the insurance policy. You are able to share your risks with others. This statement is correct.

D.

Insurance helps you to avoid things:This option is incorrect.

Insurance provides the strength to face the thing that may be occurred. So this statement is incorrect.  

Learn more:

1. Learn more about CRM system

<u>brainly.com/question/6657146 </u>

2. Learn more about management characteristics

<u>brainly.com/question/10649225 </u>

3. Learn more about resource management activity

<u>brainly.com/question/10700933 </u>

Answer details:

Grade: Middle School

Subject: Banking

Chapter: Insurance

Keywords:insurance, primary way, allows, covered, a loss, even, very long, get money, pay money later, share the risk, others, helps to avoid, things.

Viefleur [7K]3 years ago
4 0

C. You share the risk with others.

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product development

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Which of the following best explains why resources need to be allocated in the game of economic? A) Natural resources are often
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Answer:

The best explanation for the need to allocate resources in the game of economics is that:

C) There are not enough resources to produce all of the goods and services that everyone wants.

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In economics, it has been established that human needs are insatiable and that the resources to meet the needs are not readily and sufficiently available.  This is the bedrock of Economics.  It is the reason that Economics is studied as a separate course.  Scarcity and needs are important concepts in human interactions.  Therefore, the ability to allocate scarce resources to enable the production of goods and services is key to human development.

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2 years ago
A bed mart company is in the business of manufacturing beds and
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<h3>What is an inequality</h3>

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Let x represent the number of bed and y represent the number of pillow, hence:

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Analyzing Lanny's profile, it is clear that he is not the ideal candidate, as he forces others to do things his way, which does not constitute an attitude of recognizing new approaches and maintaining a posture favorable to innovation.

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And Jennifer, a methodical worker, also lacks the essential requirements, as an innovative attitude requires an employee with a more flexible posture to accept new ideas and approaches.

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6 0
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On January 1, 2020, the balance sheet of Naperville Company (a sole proprietorship) was as follows.
guapka [62]

Answer:

Explanation:

From the information povided:

(a) To compute the amount of goodwill paid by Chicago Corporation

Particulars                                            Amount ($)

Accounts Receivable                           100000

Inventory                                               170000

Plant & Equipment                               400000

Land                                                        90000

Customer List                                            4000

Trade Names                                          <u> 16000</u>

     NET ASSETS  (A)                             <u>780000</u>

<u />

Current liabilities                                     76000

Non-current liabilities                            <u>160000 </u>

      NET LIABILITIES (B)                        <u> 236000</u>

∴

PURCHASE  CONSIDERATION (A -B)   544000

<u>Less:</u>  Cash Paid                                    <u>  580000</u>

          GODWILL                                    <u>    36000 </u>

<u />

b)

In the books of Chicago Corporation, the Journal Entry to record the purchase of Naperville Company.

Account Name                                       Dr.                      Cr.

Accounts Receivable A/C                  100000

Inventory A/C                                       170000

Plant Equipment  A/C                          400000

Land A/C                                                 90000

Customer List A/C                                    4000

Trade Names A/C                                   16000

Goodwill A/C                                           36000

Current liabilities A/C                                                       76000

Non-Current Liabilities A/C                                             160000

Cash A/C                                                                          580000

c)

The minimum required amount of goodwill that Chicago can amortize by the end of 2020 is $3600.This is because the amortization can take place for a period of 10 years.

<u />

8 0
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