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3 years ago

Insurance underwriters sell insurance. True or False?

Business

1 answer:

Archy [21]3 years ago

8 0

Hello there!

Answer:

Your answer would be FALSE

Explanation:

The reason why your answer would be FALSE is because Insurance underwriters are NOT the ones that sell insurance to customers. The person that sells insurance to people are Insurance Agents.

What an insurance underwriter does is decide which types of insurance a company should have and which types of insurances the company shouldn't have. They're specifically not the ones that you call or see when you get insurance.

For example, when you call an insurance company, the person that picks up the phone is an Insurance Agent for the company. Insurance underwriters don't necessarily deal with customers because that is not their job task.

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The ___________ is the primary agency responsible for drawing up the budget.

aleksley [76]

The government is the primary agency responsible for drawing up the budget.

Government is the means by which state policy is enforced, as well as the mechanism for determining the policy of the state. Forms of government, or forms of state governance, refers to the set of political systems and institutions that make up the organization of a specific government.

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3 years ago

How did the government help the economy?

melomori [17]

The government helped the economy by preventing monopolies that way small independent buissness could survive.

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3 years ago

McGregor Company allows customers to pay with credit cards. The credit card company charges McGregor 3% of the sale. When a cust

Natalka [10]

Answer:

McGregor would Debit Service Fee Expense for $6.

Explanation:

Data provided in the question:

Fee charged by the credit card company = 3% of the sales

Amount of payment made by the customer to McGregor for the service = $200

Now,

The amount of fees charged on the transaction bu the credit card company

= 3% of $200

= 0.03 × $200

= $6

Since, this fees is an expense for the McGregor

Hence,

McGregor would Debit Service Fee Expense for $6.

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3 years ago

If the assets of a company increase by $55,000 during the year and its liabilities increase by $25,000 during the same year, the

morpeh [17]

Answer:

Increase of $30,000

Explanation:

Increase in Company asset- Increase in liabilities

Increase in Company asset =$55,000

Increase in liabilities =$25,000

Hence:

$55,000 -$25,000

=$30,000

Therefore the change in equity of the company must have an increase of $30,000

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3 years ago

Sumter Pumps Corporation, a manufacturer of industrial pumps, reports the following results for the year ended December 31, 20Y3

serious [3.7K]

Answer:

Explanation:

The preparation of the retained earnings statement for the year ended December 31, 20Y3 is shown below:

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Add: Net income $7,373,000

Less: Total dividend declared -$3,750,000

Retained earnings, December 31, 20Y3 $67,706,000

The total dividend declared would be

= Cash dividends declared + Stock dividends declared

= $967,000 + $2,783,000

= $3,750,000

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3 years ago