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3 years ago

Explain services offered by insurance companies

1 answer:

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Insurance products & services
Business Insurance. ...
Professional Indemnity. ...
Directors & Officers / Management Liability Insurance. ...
Property Insurance. ...
Motor Insurance / Commercial / Heavy Motor Insurance. ...
Home & Contents Insurance. ...
Cyber Insurance. ...
Business Interruption Insurance.

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The economic analysis of minimum wage involves both normative and positive analysis. Consider the following consequences of a mi

ICE Princess25 [194]

Explanation:

First, remember that the difference between normative and positive economic analysis is that;

Normative analysis take a somewhat neutral view by stating how the world should be. While

The Positive analysis states the facts. That is, it describes the world as it is.

Thus, a Normative analysis of the consequence of minimum wage would be the following statements:

c. In some cities such as San Francisco and New York, it would be impossible for low−skilled workers to live comfortably in the city without minimum wage laws.

d. The gains to winners of a minimum wage law should be valued more highly than the losses to losers because the latter primarily comprises businesses.

And a Positive analysis of the consequence of minimum wage would be the following statements:

a. The minimum wage law causes unemployment.

b. A minimum wage law benefits some groups and hurts others.

4 0

3 years ago

Walker Telecommunications has a quick ratio of 2.00x, $35,550 in cash, $19,750 in accounts receivable, some inventory, total cur

Oduvanchick [21]

Answer:

Option C: 8.44 times

Explanation:

Quick ratio(also called as acid test ratio) is the indicator of a company's liquidity position at a very short period which only considers the most liquid assets and ignores Inventory & other assets which cannot be realised immediately.

As we know that Quick Ratio = [Current Assets - Inventory - Prepaid Assets] / Current Liabilities

2.00 = $79,000 - Inventory - 0] / $27,650

=> Inventory = $23,700‬

Inventory turnover ratio gives us the number of times the company sells and replaces its inventory during the period.

Annual Sales = $200,000

Inventory Turnover Ratio = Sales / Average Inventory

=> $200,000 / $23,700 => 8.44 times

8 0

3 years ago

In a period of rising prices, the inventory method which tends to give the highest reported net income is:

Blizzard [7]

Answer:

b. first-in, first-out.

Explanation:

Generally, there are three methods for estimating the inventory shown below:

1. First-in-first, the company is selling the old products in this way than the new ones, which means first selling the old products and then selling the new ones

2. Weighted average method: Weighted cost is measured by considering the total revenue and total purchase

3. Last-in-first-out: Contrary to the first-in-first-out process, the first sale of new goods, then selling of old goods.

4. Base stock: The process by which the orders of the consumer are fulfilled by holding the less inventory

In the FIFO method, the highest ended inventory results in the lower cost of goods sold at the highest net profits.

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3 years ago

Lindsey Company uses activity-based costing. The company has two products: A and B. The annual production and sales of Product A

natita [175]

Answer:

Results are below.

Explanation:

First, we need to calculate the activities rate:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Activity 1= 24,000 / 1,000= $24 per activity unit

Activity 2= 36,900 / 900= $41 per activity unit

Activity 3= 63,000 / 1,800= $35 per activity unit

Now, we can allocate costs to product A:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Activity 1= 24*200= $4,800

Activity 2= 41*750= $30,750

Activity 3= 35*1,000= $35,000

Total allocated costs= $70,550

Finally, the unitary cost:

Unitary cost= 70,550 / 5,000= $14.11

3 0

3 years ago

Match each economic scenario with the correct economic term.

kkurt [141]

Answer:

The answer is:

1 - Underutilization

2 - Efficiency

3 - Unattainability

Explanation:

Efficiency in economics means a situation in which all resources are optimally distributed to serve each entity in the best way while minimizing waste and inefficiency.

Underutilization in economics is also a a situation in which lesser resources are being utilized than the economy is capable of utilizing.

Unattainability is a situation in which what one to accomplish or achieve is not possible.

1 - Underutilization

2 - Efficiency

3 - Unattainability

6 0

3 years ago