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ASHA 777 [7]
3 years ago
14

Emma Clumsy, the insured, makes a contract with Rest in Peace Insurance Company, the insurer, whereby Emma will pay quarterly pr

emiums of $200.00. Upon Emma's death, $400,000 will go to her son, Henry as the beneficiary. Further, the policy required that upon Emma's death, the beneficiary must notify the insurer within three months. Emma did not inform Matthew that he was her beneficiary. Emma died and her policy was not found until four months later. Upon finding the policy, Henry informed Rest in Peace Insurance Company that Emma had passed away, but it refused to pay him the money. Henry sued claiming that he was that he was not bound by the time limitation because he did not agree to it.
In this situation, Henry is ______________.
Business
1 answer:
masya89 [10]3 years ago
5 0

Answer:

Henry is the intended beneficiary of the insurance policy and as such, he is bound to the time limitations and all the other clauses included in the contract.

Explanation:

Intended beneficiaries are third parties that can benefit from a contract. Third parties are not part of the contract and may not even know that they were included as beneficiaries in it, but they are bound by all the legal clauses included in the contract. They must be included in the contract and all the benefits they might obtain have to be explicitly established.  

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oksian1 [2.3K]

The descriptions to cases that will possibility be addressed by a Trial Balance are:

  • can detect the accuracy of the accounting process(possible)
  • can help check whether the debit side is equal to the credit side(possible)
  • can help prepare the income statement(possible)
  • helps serve as a proof of the application of the double-entry system(not possible)
  • can help check whether a particular transaction has been completely omitted(not possible)

<h3>What is trial balance?</h3>

A trial balance can be regarded as  bookkeeping worksheet which contains the ledger that is arranged into  debit and credit account column .

Therefore, with trial balance, one can check whether the debit side is equal to the credit side.

learn more about trial balance at:brainly.com/question/24217989

#SPJ1

3 0
1 year ago
he Assembly Department of​ ByteSize, Inc., manufacturer of​ computers, incurred $ 260 comma 000 in direct material costs and $ 7
Mkey [24]

Answer:

<em>Cost per equivalent unit  for conversion cost = $116.66</em>

<em>                                      </em>

Explanation:

<em>Under the weighted average method of valuation, to account for completed units, it is assumed that the entire degree of work required to a complete a set of work  is done in the period under consideration.So there is no separation of the completed units into opening inventory and fully worked. </em>

To determine the cost per equivalent unit, we use the formula below:

<em>Cost per equivalent unit = $70,000/600</em>

<em>                                        = $116.66</em>

<em />

8 0
3 years ago
Read 2 more answers
Blade Breeze Company manufactures ceiling fans and uses an activity-based costing system. Each ceiling fan has 20 separate parts
Rainbow [258]

Answer:

cost of machining per ceiling fan= $18  per unit

Explanation:

<em>Activity-based costing is a form of absorption costing where overheads are charged to product using cost drivers. Under this method, overheads are first analyzed and categorized by the activities responsible for them and then charged to product based on the amount of benefits enjoyed using cost drivers.</em>

For example, the machining overhead would charged to each ceiling fan using the machining overhead rate per machine hours.

Cost of machining per ceiling fan = Machining hours × overhead rate per machine hours

= 2.50 × $7.20= $18  per unit

cost of machining per ceiling fan= $18  per unit

5 0
3 years ago
The registration fee for a used car is 0.8% of the sale price, which is $5,700.How much is the fee? *
insens350 [35]

Answer:

The registration fee for this used car is $45.60.

Explanation:

Since the sale price of the used car is $5,700, to calculate the registration fee, simply multiply the selling price by the registration rate of 0.8% (0.008):

F = 5,700 * 0.008

F= $45.60

The registration fee is $45.60.

7 0
3 years ago
When dealing with group conflict, a manager should try to increase the ratio of relationship to substantive conflict?
Dominik [7]

False. When dealing with group conflict, a manager should try to increase the ratio of relationship to substantive conflict. When dealing with a group conflict, the manager should work in different ways to make sure that each person is treated the same and try to resolve the conflict with them instead of potentially creating more conflict if they add more conflict to the problem.

3 0
3 years ago
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