Considering you accidently messed up the question, Could you give me a brainliest?
First you need to find out the amount of insurance coverage needed:
80% of the home value.
(312,500 X .80)
Find that row in the table. Then look in the first column for the amount.
Answer:
The correct answer is ethnicity bias.
Explanation:
Ethnicity bias is the wrong tendency to perceive members of the same race different from ours as similar or equal. For example, a Westerner would perceive Asians very similar, without being able to distinguish facial features, while on the contrary the same would happen, an Asian tends to see Western faces as all the same.
From social psychology this bias is interpreted as an endogroup advantage, so that we favor our ethnic group and differentiate ourselves from other exogroups. This bias is also interpreted as a rapid formation of stereotypes.
Answer:
1. Cash-basis accounting - <em><u>Companies record revenues when they receive cash and record expenses when they pay out cash.</u></em>
Unlike in Accrual basis accounting, here revenue is recognized when the money is paid regardless of if the payment for services comes after a year. The same goes for expenses. Tax authorities use the Cash basis.
2. Fiscal year - <em><u>An Accounting time period that is one year in length.</u></em>
This is the Accounting period for a firm. It runs for 12 months and depends on when they started business or when they want to report financials.
3. Revenue recognition principle - <em><u>Recognize revenue in the accounting period in which a performance obligation is satisfied</u></em>
This falls under the Accrual basis of accounting. It is recommended by GAAP. Revenue should be recognized only when the service has been accomplished regardless of when actual payment is made.
4. Expense recognition principle - <u><em>Efforts (expenses) should be matched with accomplishments (revenues).</em></u>
Follows the same premise as the Revenue recognition principle. Recognize expenses when incurred and should be matched to revenues.
