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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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What do you think are the reasons for business failure? Explain your answer.
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Answer:

The most common reasons small businesses fail include a lack of capital or funding, retaining an inadequate management team, a faulty infrastructure or business model, and unsuccessful marketing initiatives.

7 0
3 years ago
On April 1, Garcia Publishing Company received $32,580 from Otisco, Inc. for 36-month subscriptions to several different magazin
Oksi-84 [34.3K]

Answer: Debit Unearned Fees, $8,145; Credit Fees Earned, $8,145.

Explanation:

The $32,580 are for 36 months so the amount per month would need to be calculated.

= 32,580/36

= $905

The subscriptions were paid on the 1st of April which means that only 9 months (April to December) of the first year will have revenue recognized for them.

= 905 * 9

= $8,145

Correct entry would be to debit the Unearned fees account as it is a liability that needs to reduce to reflect that fees have now been recognized.

Credit the Fees Earned account to recognize revenue.

Debit Unearned Fees, $8,145; Credit Fees Earned, $8,145.

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3 years ago
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shepuryov [24]

Answer: Answer is 1

Explanation:

In a market economy, a high price is a signal for producers to supply more and consumers to buy less.

3 0
3 years ago
Read 2 more answers
What is the average of gross income for domestic movies (in mln)?
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The average gross income for domestic movies (in mln) is 180

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Most of the Weekly Loss is weekend cashiers. Historically, this has been reported as box office revenue from Friday to Sunday, and holidays close to weekends. Day numbers from Friday to Sunday are also now used.

Learn more about Domestic movies here: brainly.com/question/25731424

#SPJ4

5 0
2 years ago
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Anna007 [38]
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Amazon creates one central place for customers to find almost everything they could ever need or want. This keeps their customer base happy, committed and spending on Amazon.com daily. Why shop elsewhere when you can use Amazon.com as a 'one stop shop'? Amazon has built a very loyal customer base by providing options and great customer service. </span>
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