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Ivanshal [37]
4 years ago
12

To be valid and enforceable, insurance contracts must meet which general legal requirements?

Business
1 answer:
liq [111]4 years ago
5 0

Answer and explanation:

There are four (4) legal requirements insurance contracts must meet to be considered valid and enforceable: <em>the contract must have a </em><em>legal purpose</em><em>; both parties must have l</em><em>egal capacity</em><em> to sign the contract; both parties must show proof that they </em><em>agreed in the terms</em><em> (benefits and obligations) of the contract; </em>and<em>, there must be a </em><em>payment agreement</em><em> for the services to be rendered</em>.

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Kosakowski Corporation processes sugar beets in batches. A batch of sugar beets costs $91 to buy from farmers and $17 to crush i
jekas [21]

Answer:

$29

Explanation:

The computation of the more profit or loss via processing one batch of sugar to the end products is shown below:

= Total sale in the case when it is processed further - processing cost

where,

Total sale in the case when it is processed further is

= $86 + $134

= $220

And, the processing cost is

= $91 + $17 + $38 + $45

= $191

So, the profit is

= $220 - $191

= $29

5 0
3 years ago
List three causes of a favorable direct materials price variance. ​(Select three possible​ answers.)
ankoles [38]

Answer:

A, B , and E

Explanation:

<u>A. Budgeted purchase prices were set without careful analysis of the market</u>

Budgets are prepared using estimated prices.  As much as possible, the budget prices should be the same as market prices.  It may happen that during price estimation, some aspects could have been ignored, leading to incorrect purchase prices. It could be possible that the budget prices are overstated. In such a scenario, there would be a favorable price variance to the business.

<u />

<u>B. Materials prices decreased unexpectedly due to industry oversupply</u>

The supply and demand forces determine the prices of raw materials. Low supply will lead to an increase in price as many buyers chase few goods. Constant demand and supply create stable prices. A sudden increase in supply will lead to reduced prices, which will cause favorable variances to the business.

<u>E. The materials purchasing officer negotiated more skillfully than was planned in the budget.</u>

The purchasing manager does the actual buying in any organization. Should the manager be a skilled negotiator, the business stands a better chance of buying goods at low prices. In this case, the purchasing manager negotiated for better prices. The results will be a positive price variance for the company.

6 0
3 years ago
The practical application of techniques and knowledge is called __________.
castortr0y [4]
The practical application of techniques and knowledge is called D. TECHNOLOGY.

Technology is defined as a branch of knowledge that deals with the creation and used of technical means to improve everyday life. 

Knowledge gained from industrial arts, engineering, applied and pure science were put to practice by the creation of technological products.



7 0
3 years ago
A company has developed a new smart clock. If the clock is successful, the present value of the payoff (at the time the product
timama [110]
The correct answer is letter C
5 0
3 years ago
Shawn works at the local electrical company in Nampa, ID, which provides electricity to the entire city of Boise. This area is p
Sergio039 [100]

Answer:

fault tolerance              

Explanation:

Fault tolerance refers to the property which allows a device to keep working correctly in the case of any of its elements collapsing. When the operation output at all declines, the decline is equal to the extent of the malfunction relative to a foolishly built device in which only a minor malfunction will cause a complete breakdown.

A fault-tolerant architecture allows a process to maintain its planned function, possibly at a decreased pace, instead of crashing entirely when any aspect of the process fails. The concept is more widely used to define information systems configured to keep functioning somewhat fully only, maybe, a decrease in performance or an improvement in reaction time as a result of intermittent malfunction.

7 0
3 years ago
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