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Elza [17]
3 years ago
8

A hospital estimates that, based on past experience, it will incur $5 million in malpractice claims as a result of services rend

ered in the current period. The hospital carries a malpractice insurance policy with a yearly $2 million deductible clause. The amount that should appear on its year-end financial statement as Claims Expense (Loss) should be
a) $0.b) $2 million.c) $3 million.d) $5 million.
Business
1 answer:
Gala2k [10]3 years ago
5 0

Answer:

d) $5 million.

Explanation:

The amount that should appear on the year-end financial statement should be the most probable estimate. In this case, $5 million is the most probable because this is deduced from past experience, while $2 million is a practice that should be reviewed in the light of new information.

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Aurora Corporation operated without insurance coverage for the first month of 2019. Then, on February 1, 2019, the company paid
Genrish500 [490]

Answer:

Correct answer is letter B, $2,200

Explanation:

Using accrual basis method, revenue and expenses will be recognized when incurred.

The $4,800 is a 24 months policy, therefore we must compute the insurance expense applicable for the year covering from February 1 to December 31 (11 months)

An adjusting entry to recognize the expire portion of the insurance must be done at the year end in the amount of $2,200.

($4,800 / 24 months = $200 x 11 months = $2,200)

3 0
3 years ago
Campbell's has been marketing soup in Japan for more than 40 years. Early on, Japanese consumers were not receptive to ads featu
Alex

Answer:

D, product-communication adaptation

Explanation:

Product adaptation can be defined as the process of modifying a product to make it useful for a variety of users.

Communication adaptation can also be defined as the change in a product's communication as a result of a change in product strategy.

Product-communication adaptation can be defined as the modification of a product for a variety of users but ensuring that the marketing of the product is through standard communication channels.

In the case of Campbell adapted his product to look like M'm M'm Good product but ensured that he used a standard communication channel (ads) to market his product.

Cheers.

6 0
3 years ago
One of the global institutions that emerged over the past 75 years is GATT which stands for the General Agreement on Tariffs and
hichkok12 [17]

GATT  is a very common term in business. One of the global institutions that emerged over the past 75 years is GATT which stands for the General Agreement on Tariffs and Trade.

<h3>What is the meaning of GATT?</h3>

The word simply means General Agreement on Tariffs and Trade. This  General Agreement is known to covers international trade in goods.

They are involved in Trade negotiations. The WTO is regarded as the successor to the General Agreement on Tariffs and Trade (GATT) set up after the Second World War.

Learn more about GATT from

brainly.com/question/7141880

5 0
1 year ago
One way businesses can solve ethical dilemmas is through:
Viefleur [7K]

Answer: D

Explanation:

An ethical dilemma is a decision making problem between two possible moral imperatives, neither of which is unambiguously acceptable or preferable.

The best way to solve an ethical dilemma problem is to only recruit ethically proven potential workers during interview.

8 0
3 years ago
Harrison Corp. wants to raise its level of service to enhance customer experience. The board of directors sent out an email cont
romanna [79]

Answer:

Downward communication

Explanation:

Downward communication in a formal structure is the flow of information in terms of orders, appreciation, encouragement from higher authority to subordinates across the organization.

Upward communication in the form of feedback and problems flow from lower level employees to upper level. Here, the board of directors are top level employees who have passed the message to the employees to raise the level of service. This is a form of downward communication.

4 0
3 years ago
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