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laila [671]
3 years ago
15

If two individuals are licensed in the same line with two different companies join together to sell a policy, the commission can

be:
A. Shared between the two agents and the insuredB. Paid only to the agent who initiated the saleC. Withheld by the insuring company since this is an illegal practiceD.Shared between the two agents
Business
1 answer:
NISA [10]3 years ago
4 0
<h3><u>Answer:</u></h3>

The commission can be shared between the two agents.

<h3><u>Explanation:</u></h3>

Many times different companies collaborate with each other to sell a particular policy to maximize their profits. When there are two agents licensed in the same line and when the two companies collaborate to sell a policy then the commission is shared  between the agents.

This is because they will work together for the profits and that when the two companies collaborate they become one to sell the policy. The agents work together and the commission is given to them as a whole. This is a common practice when two companies work together.

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True or false: unless demand is perfectly elastic or perfectly inelastic, whether a tax is levied on buyers or on sellers, the c
zubka84 [21]

The given statement stands as true about inelastic products.

  • Products that are inelastic must often have reliable backups. Serviceability, conventional medicines, and cigarette products are the most frequently encountered goods with inelastic demand. Businesses that sell comparable goods have less price rigidity since demand is constant regardless of price changes.
  • The term "inelastic" refers to a good or service's static volume when its price varies.

False or true Whether a tax is imposed on purchasers or sellers, the cost is shared unless demand is absolutely elastic or perfectly inelastic.

True, for the following reason: Buyers pay the entire tax when demand is perfectly inelastic.

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7 0
1 year ago
Multiple Choice Question Tresses, Inc., which has a December 31 year end, lent $1,000 on December 1 to an employee at 6% due in
maria [59]

Adjusting entry on December 31 with a debit to Interest receivable and credit to Interest Revenue for the interest generated in December.

<h3>What is an Adjusting entry?</h3>
  • Adjusting entries and journal entries used in accounting and accounting to assign income and expenditure to the period in which they actually occurred.
  • They are often made at the end of an accounting period. Under accrual-basis accounting, the revenue recognition principle serves as the foundation for adjusting entries related to unearned and accrued revenues.
  • Because they are done on balance day, they are occasionally referred to as balance day adjustments.
  • Revenues and related costs are recorded in the same accounting period according to the matching concept of accrual accounting.
  • The actual money, however, can be received or paid at a separate period.
<h3>What is Interest receivable?</h3>
  • The amount of interest that has been earned but has not yet been paid out in cash is known as interest receivable.
  • Many organizations won't record this number because they believe it to be irrelevant.

Therefore, it will record an Adjusting entry on December 31 with a debit to Interest receivable and credit to Interest Revenue for the interest generated in December.

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3 0
2 years ago
Polar Containers makes​ high-end coolers for camping. The total task time needed to make a cooler is 310 ​seconds, with the long
Degger [83]

Answer:

TAKT time: 840 seconds

maximum output:  315 coolers.

Explanation:

The takt time refers to matching the production pace with the demand

\frac{availalbe-working-time}{customer \: or \: firm \: demand}

To produce 30 coolers per 7-hours day we need an outpot of:

7 hours x 60 minutes x 60 seconds = 25,200

output of 30 coolers

takt: 25,200 / 30 = 840 seconds

producing a cooler every 840 seconds is the takt time.

Maximum output:

If the company does several cooler in parallel it will have a bottle neck in the longest individual task so, this time determinates the maximum output.

25,200 second of working time available

80 second longest task to complete a cooler:

25,200 / 80 = 315 coolers.

7 0
3 years ago
Marc and Michelle are married and earned salaries this year of $64,000 and $12,000, respectively. In addition to their salaries,
ale4655 [162]

Answer:

I will use the 2020 tax schedule since recovery rebate credit applies to 2020:

Marc and Michelle's gross income = Marc's and Michelle's salaries + interest from corporate bonds = $64,000 + $12,000 + $500 = $76,500

they should choose the standard deduction since it is higher than their itemized deductions = ($24,400)

contribution to IRA = ($2,500)

alimony payment = ($1,500) the divorce agreement was settled on 2005

Marc and Michelle's taxable income = $48,100

Marc and Michelle's tax liability = $1,975 + [12% x ($48,100 - $19,750)] = $5,377

Interests on municipal bonds is not taxable.

The amount of taxes that they owe = $5,377 - $3,500 (federal tax withholdings) = $1,877

Refundable tax credits:

$2,000 in child tax credit

$2,900 in recovery rebate credit

total = $4,900

taxes payable or refund = tax liability - refundable tax credits = $1,877 - $4,900 = -$3,023.

Marc and Michelle should get a refund for $3,023

4 0
3 years ago
Josh's weekly budget for lunch is $24. He eats only pizza and burgers. Each pizza costs $6 and each burger costs $3. Josh knows
egoroff_w [7]

Answer:

The answer is: Josh's utility maximizing point is when he buys 2 pizzas and 4 burgers.

Explanation:

If Josh gets equal marginal utility per dollar spent when buying one pizza and 2 burgers, that means that every pizza and every burger give Josh 10.67 utility unit per dollar spent. So Josh can obtain maximum 16 units of utility with his budget and his purchasing options (= $24 x 0.67 units of utility per dollar). The way he can maximize his utility is by buying two packs of one pizza and two burgers per pack, since every pack will give him 8 units of utility.

8 0
3 years ago
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