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Norma-Jean [14]
3 years ago
5

The distinction between fundamental and particular risks is important because a. normally only particular risks are insurable. b

. whether a risk is fundamental or particular may determine how society will deal with it. c. none of the above. d. fudamental risks are a souce of gain to society.
Business
1 answer:
Alika [10]3 years ago
4 0

Answer:

b. whether a risk is fundamental or particular may determine how society will deal with it.

Explanation:

The fundamental risk is the risk that impacts the larger number of people or we can say the population

While the particular risk is the risk that contains the losses of personal with respect to the origin and their effects. Here it impacts an individual or smaller number of people

So the distinction between both risk could be figured out by seeing how society would deal with it

Hence, the correct option is b.

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Melinda Stoffers owns and operates ABC Print Co. During February, ABC incurred the following costs in acquiring two printing pre
tigry1 [53]

Answer:

The answer is below

Explanation:

a. Fee paid to factory representative for installation - DEBITED to Asset account

b. Freight - DEBITED to Asset account

c. Insurance while in transit - DEBITED to Asset account

d. New parts to replace those damaged in unloading - NOT DEBITED to Asset account

To understand which costs incurred in acquiring the new printing press should be debited to the asset account, it should be noted that "new parts to replace those damaged in unloading" does not lead to improvement in assets, hence, it should be considered as Expense instead of being devoted into the asset account.

7 0
3 years ago
In bramble, Inc., the Assembly Department started 30,000 units and completed 35,000 units. If beginning work in process was 15,0
natka813 [3]

Answer:

Option (d) is correct.

Explanation:

Given that,

Beginning work in process = 15,000 units

Assembly Department started = 30,000 units

Units completed = 35,000 units

Ending work in process:

= Beginning work in process inventory + Additions during the year -  Units completed and transferred out

= 15,000 + 30,000 - 35,000

= 10,000 units

Therefore, the ending work in process is 10,000 units.

8 0
3 years ago
_______ is best described as the difference between the value a consumer attaches to a good or service and what he or she paid f
zysi [14]

Consumer Surplus

This is the difference between what consumers are willing and able to pay and what they actually do pay. You may be willing to spend up to $100 on a new pair of shoes but if you find the perfect pair on sale for $20 you will buy those and there will be an $80 surplus.

5 0
3 years ago
The year-end adjusted trial balance of Hilltoppers Corporation included the following account balances: Cash, $3,600; Equipment,
Galina-37 [17]

Answer:

Explanation:

The preparation of the post-closing trial balance is presented below:

                                        Hilltoppers Corporation

                                     Post-closing trial balance

Particulars                                      Debit                        Credit  

Service revenue                                                               $14,600  

Cash                                               $3,600

Accounts Payable                                                           $1,600

Utilities expense                            $2,600

Salaries expense                           $9,600

Equipment                                      $15,600

Common stock                                                                 $12,000

Retained earnings                                                            $4,400

Dividend                                         $1,200                                    

Total                                               $32,600                     $32,600

4 0
3 years ago
Match each of the following scenarios with the accounting principle or accounting assumption that it best illustrates.a. Several
Orlov [11]

Answer:

Key S - Scenario

      A - Accounting Principle or Assumption

S

Several years after Thomas Company purchased new office equipment, the company’s accounting records still show the original purchase price.

A

Historical cost principle

S

The home of Rob Elliot, the owner of GGE Enterprises Inc., is not listed among the company’s assets.

A

Business entity assumption

S

Despite several years of falling sales, Thomas Company continues to forecast sales and make strategic plans to raise revenues and cut expenses.

A

Going concern assumption

S

Thomas records expenses incurred to produce the sales for the month.

A

Expense recognition principle

S

GGE Enterprises records a deposit received from a customer for work to be performed later in the month. The customer is billed for the remaining amount after the work is complete, and the customer’s payment is recorded.

A

Revenue recognition principle

S

Thomas Company provides earnings information to investors at the end of every quarter.

A

Time period assumption

S

The accounting records of Thomas Company are in dollars, not euros, although the Ohio-based company is owned by a German firm.

A

Monetary unit assumption

Explanation:

5 0
3 years ago
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