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3 years ago

"The __________ provision specifies what an insured must do, if a policy has lapsed, in order to put it back in force."

Business

1 answer:

Vesna [10]3 years ago

6 0

Answer:

The correct answer is Reinstatement.

Explanation:

The Reinstatement provision specifies what an insured must do, if a policy has lapsed, in order to put it back in force.

A reinstatement clause is a clause in insurance policy which grants the policy owner the right to reinstate a lapsed policy for specified reasons, such as non-payment of premiums, by furnishing satisfactory evidence of insurability and paying all unpaid premiums.which grants the policy owner the right to reinstate a lapsed policy for specified reasons, such as non-payment of premiums, by furnishing satisfactory evidence of insurability and paying all unpaid premiums.

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Suppose a state passes a minimum wage law that increases the minimum wage from $5/hour to $20/hour. The equilibrium wage prior t

melisa1 [442]

Answer: Some employers and workers will agree on a wage less than $20 and not report the wages to the government; black market

Explanation: When the minimum wage is set above the equilibrium wage it leads to a surplus of labor in the market. There are more job seekers than the firms demand at the minimum wage of $20. Thus, the only possible option will be that some employers and workers will agree on a wage less than $20 and not report the wages to the government. When this happens it leads to black marketing. Black market is an underground economy the transactions of which are not reported to the government.

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3 years ago

Which of the following is not one of the three conditions that characterizes a perfectly competitive market? A. Firms have pric

mart [117]

Answer: Option A

Explanation: In simple words, perfect competition refers to a market structure in which the the market have a large number of small buyers and sellers.

Due to this high volume of small level buyers and sellers no single party has the power to influence the price. The price in such market are determined by the market forces of demand and supply.

Hence from the above we can conclude that the correct option is A.

3 0

3 years ago

What is trade in economics

NeTakaya

Answer:

Trade is a basic economic concept that involves the buying and selling of goods and services, in which compensation is paid by a buyer to a seller, for goods or services or the exchange of goods or services between parties(which is known as trade by barter )

Explanation:

6 0

3 years ago

Read 2 more answers

Job WR53 at NW Fab, Inc. required $200 of direct materials and 10 direct labor hours at $15 per hour. Estimated total overhead f

nadezda [96]

Answer:

The question is not complete, find below complete question:

Job WR53 at NW Fab, Inc. required $200 of direct materials and 10 direct labor hours at $15 per hour. Estimated total overhead for the years was $760,000 and estimated direct labor hours were 20,000. What would be recorded as the cost of job WR53?

A. $200

B. $350

C. $380

D. $730

The correct option is D, $730 as shown below

Explanation:

Overhead absorption rate is given total overhead /direct labor hours

Overhead absorption rate=$760000/20000

=$38/ labor hour

Hence job WR53 would require $380($38*10 hrs) in overhead cost

The total cost of the job is given as follows:

Direct materials $200

Direct labor cost($15*10) $150

Overhead on the job <u> $380</u>

Total cost <u>$730</u>

The job WR53 would cost $730

In essence, for the job to be profitable, it must be sold at a price beyond $730, otherwise the job might be sold at a loss

7 0

3 years ago

Read 2 more answers

As a finance manager at AllSports Communication, Charlie worries about the firm's borrowing requirements for the upcoming year.

denpristay [2]

Answer: Cash budget

Explanation:

The cash budget is the term which is used to define cash flow in the business as it helps in establishing a specific budget by proper analyzing on the outgoing flow and the inflow in an organization.

Th Cash flow is one of the important concept which is typically used by the various types of organizations for operating all the expenses and the the cash budget is used to avoid the problem of cash shortage.

According to the given question, the Cash budget is basically providing Charlie with some valuable data or information by proper estimation regarding the requirement of firm. Therefore, Cash budget is the correct answer.

5 0

3 years ago