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Brilliant_brown [7]
3 years ago
13

Kurt Simmons has 65/110/20 auto insurance coverage. One evening, he lost control of his vehicle, hitting a parked car and damagi

ng a storefront along the street. Damage to the parked car was $6,700, and damage to the store was $17,820. a. What amount will the insurance company pay for the damages
Business
1 answer:
sweet-ann [11.9K]3 years ago
8 0

Answer:

$20,000

Explanation:

Auto insurance is taken on vehicles to cover for damages that occur during a car accident. There are limits to the amount covered for different categories of loss and injury.

The losses can be property loss, bodily harm, or legal issues.

The three aspects covered by auto insurance are: bodily injury liability cover, property damage liability, and uninsured motorist coverage.

In this instance Kurt Simmons has 65/110/20 auto insurance coverage.

This means he has a $65,000 cover for bodily injury per person, $110,000 total bodily injury per accident, and $20,000 property damage coverage per accident.

Since the damage to the parked car and the store are property damages, the insurance company will pay $20,000 for the damages.

Kurt will have to pay the balance.

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Assume that the Quinn Corporation uses the indirect method to depict cash flows. Indicate where, if at all, stock issued for equ
trasher [3.6K]

Answer:

No, it will not be classified on cash flow statement.

Explanation:

In the given case, stocks are issued in exchange of equipment. Assuming no cash is involved even for the balancing amount.

Since, cash flow statement records all transactions involving cash the exchange of stock issued for equipment, is nowhere involving cash thus, it will not be depicted on cash flow statement.

Final Answer

No it will not be classified on cash flow statement.

4 0
3 years ago
10) Financial intermediaries can substantially reduce transaction costs per dollar of transactions
goblinko [34]

Answer: D) economies of scale.

Explanation:

Economies of scale refers to when an entity is able to reduce its total costs as quantities of the good causing the costs increase.

Financial Intermediaries such as Commercial banks, Mutual funds, Investment banks etcetera have a lot of funds available for trade which they use to execute large trades. As a result, the costs on average are lower or them per transaction as opposed to traders executing with lower volumes. For example, when purchasing shares they will be able to negotiate better fees with stockbrokers because they are buying a lot of shares as opposed a single buyer trading.

7 0
3 years ago
Hey there,
gtnhenbr [62]
I am the age 17 and I am A)Single
3 0
3 years ago
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During the year ended December 31, 2017, State Street Corporation had the following results: Sales revenue $267,000: cost of goo
mel-nik [20]

Answer:

34.6%

Explanation:

The formula to compute the company's profit margin is shown below:

Profit margin = (Net income) ÷ (sales revenue) × 100

                     = ($92,400) ÷ ($267,000) × 100

                     = 34.60%

It shows a relationship between the net sales or sales revenue and the net income which is earned by the company. All other items which are mentioned in the question are irrelevant. So, these are not considered in the computation part. Hence, ignored it

5 0
3 years ago
Jerzy wants to keep his overall costs down and to enter into the international marketplace slowly and carefully. He is consideri
QveST [7]

Answer:

Exporting

Explanation:

Exporting

Exporting is the method for entering into the global market by selling products which are domestically produced and traded to the foreign countries . Counter trade is also a part of exporting where one firm agrees on selling a product in counter of receiving another product from the buying firm.

Here, Jerzy is considering the use of counter trade, where he would send his shoes designed and produced domestically to Spain in return for high-quality Spanish cowhides.

Hence ,  Jerzy is exporting .

8 0
3 years ago
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