All categories

3 years ago

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?

2 answers:

5 0

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.

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:

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.

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.

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.

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

brainly.com/question/6657146

2. Learn more about management characteristics

brainly.com/question/10649225

3. Learn more about resource management activity

brainly.com/question/10700933

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.

You might be interested in

A farmer sells a bushel of corn to the supermarket for $12. The supermarket then sells the corn to customers for $25. What is th

allsm [11]

Answer:

$ 25

Explanation:

As per the description, the exact amount that is being contributed from the corn bushel to the Gross Domestic Product would be $ 25. The price at which the farmer sold it to the supermarket would not be included in the GDP because it would be considered as an intermediary good because the good purchased for the resale purpose is not included in GDP as it leads to double-counting. Thus, only the price of the final good i.e. $ 25 would be included in GDP as it will now be used for final consumption by the customers.

6 0

3 years ago

Interest rates are expressed as a percentage of ?

Mashcka [7]

Answer:

The interest rate is the amount a lender charges a borrower and is a percentage of the principal—the amount loaned. The interest rate on a loan is typically noted on an annual basis known as the annual percentage rate (APR).

Explanation:

hope this helps

8 0

2 years ago

Here are incomplete financial statements for BLOSSOM, Inc. Calculate the missing amounts

Otrada [13]

Answer:

(A) net income: 20,000

(B) COGS = 55,000

Explanation:

(A) with the RE statemtn we sovle for RE

net income = ending RE - beginning RE + dividends

net income = 27,000 - 12,000 + 5,000 = 20,000

(B) With the net income we solve for COGS

COGS= revenues - net income - salaries and wages

COGS = 85,000 - 20,000 - 10,000 = 55,000

liab + equity = total liab and stockholders equity

account payable + common stock + RE = total liab and stockholders equity

5,000 + CS + 27,000 = 62,000

CS = 62,000 - 27,000 - 5,000 = 30,000

5 0

3 years ago

Which of the following statements is true?

marissa [1.9K]

Answer: B) A)

Explanation:

This kind of method, direct write-off method is referring to your question and it is considering a method that is used for recognizing bad debts expenses that are coming from credit sales of someone's account. With this method there is no account that is considering allowance and receivable that is found on someones's account is written-off directly to expense when there is uncollectible account expense.

One of the greatest advantages is simplicity because those companies who are doing this method have to make only two transactions.

5 0

3 years ago

Read 2 more answers

Which of the following statements regarding uncertainty in liabilities is not correct? Group of answer choices Liabilities can i

nadya68 [22]

Answer: A company can only record a liability when it knows whom to pay, when to pay, and how much to pay

Explanation:

A liability is simply defined as the amount that a particular company owes. Liabilities consist of loans, accrued expenses, defered revenue, and accounts payable.

We should note that liabilities can involve uncertainty in whom to pay. Also, a company can have an obligation of a known amount to a known creditor, but not know when it must be paid.

Based on the options given in the question, the answer will be "a company can only record a liability when it knows whom to pay, when to pay, and how much to pay".

5 0

3 years ago