If the insurer takes the policy as applied for the coverage will take effect when the conditions of the receipt are met and from the date of the application or medical exam. The two types of conditional receipts are insurability and approval. The insurability receipt provides interim coverage as the applicant is insurable while the approval receipt will not begin until the insurer will approve the claim. However, conditional receipts will provide the coverage if the applicant is insurable as applied for and coverage will not be delivered until the applicant accepts the coverage if the insurer concerns a counter-offer because the applicant is substandard risk.
Answer:
8,000 m²
Explanation:
you must first change the size of your lot from acres to square miles = 2.2 acres / 640 acres per square miles = 0.0034375 square miles
now we can convert to square kilometers = 0.0034375 miles x 2.56 square kilometers per square miles 0.0055 square kilometers
there are 1,000,000 m²´per km², so you have 0.0088 km² x 1,000,000 = 8,800 m²
Answer: less than the coupon
Explanation:
When a bond that is bought at a premium of 205 is called before the bond matures by the issuer, this implies that the accelerated premium loss will have to be reflected in calculated yield to maturity.
It should also be noted that the YTC is the lowest among the yields for the premium bonds. Therefore, if the issuer calls the bond before maturity, the yield to call (YTC) realized by the investor would be less than the coupon.
Option B is correct.
Answer:
Primarily for the benefit of persons outside of the business organization.
Explanation:
Financial accounting is an accounting technique used for analyzing, summarizing and reporting of financial transactions like sales costs, purchase costs, account payables and receivables of an organization using standard financial guidelines such as Generally Accepted Accounting Principles (GAAP) and financial accounting standards board (FASB). The financial accounting standards board (FASB) is a private, non-profit organization saddled with the responsibility of establishing and maintaining standard financial accounting and reporting for general guidance of individuals such as investors, issuers and auditors.
Financial reporting can be defined as the formal communication or disclosure of financial information and statements to present and potential users such as investors and creditors.
Financial statements can be defined as a document used for the formal communication or disclosure of financial information and statements to present and potential users such as investors and creditors. Thus, it includes balance sheet, statement of retained earnings and income statement. The information that are found in a financial statement are revenues, expenses, liability, equity and assets.
Hence, the primary objective of financial accounting is to provide accounting information for external users so as to enable them have a good understanding of the financial inclination of a business firm and thus, make an informed decision whether or not to invest in the business firm.
In Accounting, the external users of a financial accounting information includes customers, creditors, investors shareholders and government regulators.
Answer:
Part (a) The net income of carter is $115 million.
Part (b) The closing cash balance at the end of year is $360.
Explanation:
Part (a) Net Income Computation:
Sales $825
Cost of goods sold <u>(</u><u>$290</u><u>)</u>
Gross Profit $535
Other Expenses <u>(</u><u>$425</u><u>)</u>
Net income $115 Million
Part (b) The cash balance of Carter is not dependent on non cash flows. So the cash transactions would be considered here for cash balance computation.
Opening Cash position $290
Collection from Sales $710
Inventory Invoices paid ($350)
For Everything <u>($290)</u>
Closing Cash balance $360
