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3 years ago

All of the following are true regarding the guaranteed insurability rider except

Business

1 answer:

docker41 [41]3 years ago

7 0

Answer:

Option (C)

Explanation:

Guaranteed insurability rider is a person who is responsible to sell extra life insurances to the owners who already have life insurance. They visit the clients and attract them to buy a new one. Similarity, the rider usually charge premiums, but if an owner of life insurance is ill or seriously injured only then no additional premium is charged.

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Why would firms that rely heavily on credit sales find factoring attractive?

lorasvet [3.4K]

From my understanding, factoring is a specific transaction in which a business sells its invoices to a factor, which is a third party commercial financial company. This process is completed so that the business can get cash quicker than it would to wait for a customer’s payment. With factoring, a company will have more<span>more more flexibility because the funds are not restricted, rather than having to deal with a typical bank loan</span><span />

5 0

3 years ago

The first step of the accounting cycle is to

elixir [45]

A. Record journal entries

3 0

3 years ago

During 2020, Morefield Building Company constructed various assets at a total cost of $14,700,000. The weighted average accumula

nikdorinn [45]

Answer:

1. $1,015,000

2. $1,015,000

Explanation:

1. Computation for the Avoidable interest.

First step is to Compute the weighted average interest rate:

Principal Interest

12% ten-year bonds$ 7,000,000 $840,000

9% 3-year note $3,500,000 $315,000

Total $10,500,000 $1,155,000

Weighted average interest rate = $1,155,000 ÷ $10,500,000

Weighted average interest rate= 11%

Now let compute the Avoidable Interest

Weighted Average Accumulated Expenditures *Applicable interest rate = AVOIDABLE INTEREST

$6,300,000 *.10 = $630,000

$3,500,000 *.11= $385,000

Total $9,800,000 $1,015,000

Therefore the Avoidable Interest is $1,015,000

2. Computation for Total interest to be capitalized during 2020

2020 Actual interest cost

Construction note $6,300,000 × .10 =$630,000

12% ten-year bonds, $7,000,000 × .12 =$840,000

9% three-year note, $3,500,000 × .09=$315,000

Total $1,785,000

Therefore Total interest to be capitalized during 2020 will be $1,015,000 which is the LESSER of

$1,785,000

8 0

2 years ago

Your girlfriend just won the Florida lottery. She has the choice of $15,000,000 today or a 20-year annuity of $1,050,000, with t

Makovka662 [10]

Answer:

3.44%

Explanation:

For this question we use the RATE formula that is shown on the attachment

Data provided in the question

Present value = $15,000,000

Future value or Face value = $0

PMT = $1,050,000

NPER = 20 years

The formula is shown below:

= Rate(NPER;PMT;-PV;FV;type)

The present value come in negative

So, after solving this, the rate pf the return is 3.44%

3 0

3 years ago

Which of the following acts would probably constitute minimum contacts that would allow an Ohio court to serve a Michigan defend

otez555 [7]

Answer:

A) All of the contacts described provide sufficient contacts for in personam jurisdiction.

c. The Michigan defendant got into an automobile accident in Ohio.
d. The Michigan defendant signed a contract in Ohio with an Ohio business.
e. The Michigan defendant sold products in the state of Ohio that injured the purchasers.

Explanation:

In legal terms, in personam (Latin for "directed toward a particular person") means that a court can serve a defendant wherever he/she is.

In this case, a Michigan citizen can be judged in an Ohio court if he/she committed any of the cited actions:

participated in a car accident in Ohio
signed a contract in Ohio
sold products in Ohio

In other words, if you live in any state but are involved in certain events or business transactions in another state, you can be judged by a court of the other state.

4 0

2 years ago