Answer:
b.Experience-rating plan
Explanation:
Experience rating is a method of evaluating used by insurance providers to adjust premiums up or down. The rating reflects your previous loss experience. It is based on the presumption that your historical loss experience predicts your future loss experience. In other words, your future losses are likely to be similar to those you incurred in the past. The Experience Rating Plan is mandatory for all eligible insureds. Any action taken in any form to evade the application of an experience modification determined in accordance with this Plan is prohibited. The object of the Experience Rating Plan is to recognize the differences between individual insureds through the use of the individual insured's own loss experience. The experience rating process serves as a means of using a history of past losses to predict the future losses of an insured.
This is done by comparing the experience of an individual insured to the average insured in the same classification. Therefore, using the insured's past experience, the experience modification is determined by comparing the actual losses to expected losses. An insured with better than average experience will produce a credit experience modification factor, while an insured with worse than average experience will produce a debit experience modification factor. A credit experience modification factor, less than 1.00, results in a premium reduction. A debit experience modification factor, greater than 1.00, results in a premium increase. An experience modification factor of 1.00, or unity, does not change premium.
Answer: $3,875 Favorable
Explanation: We can compute direct labor efficiency variance by using following formula :-
Direct labor efficiency variance = standard rate ( actual hours - standard hours)
where,
standard hours = 5,500units * 0.5 hour = 2750 hours
actual hours = 3,000 hours
standard rate = $15.5
putting the values into equation we get :-
Direct labor efficiency variance = $15.5 ( 3,000 - 2750)
= $3,875 Favorable
Why are debit cards not listed as money? B<span>ecause they perform the same function as checks, and checks are counted as money. Debit cards are sometimes called check cards because they are linked directly to a checking account just as writing a check to someone would be. Since they are essentially serving the same purpose as a check, they are not listed as a money source. </span>
Answer:
acid-test ratio 1,4044
Explanation:
We are asked for a variation ofthe current ratio
whie current ratio is determinate like:
the acid-test will remove inventory from the current assets, leaving only cash, marketable securities and accounts receivables considered for the calculations:
191,000 current assets - 85,000 inventory = 106,000
136,000 current liabilities
191,600 / 136,000 = 1,4044
