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Ivanshal [37]
3 years ago
12

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

Business
1 answer:
liq [111]3 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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Felton Co. sells major household appliance service contracts for cash. The service contracts are for a 1-year, 2-year, or 3-year
tia_tia [17]

Answer:

Unearned Service Contracts Revenue = $330,000

Explanation:

Unearned Service Contracts Revenue refers to the expected revenue from a contracts been carried and has yet been paid.

Unearned Service Contracts Revenue for 2010 = $100,000, for 2011 = $160,000 and for 2012 = $70,000

Unearned Service Contracts Revenue = $100,000 + $160,000 + $70,000

Unearned Service Contracts Revenue = $330,000

7 0
3 years ago
What is the highest level of message AWARENESS that can be reached with the UNIVERSITY STUDENT based on a selection(s) of POSITI
Ivahew [28]

The highest level of message AWARENESS that can be reached with the UNIVERSITY STUDENT based on a selection(s) of POSITIONING messages  is 50%.

<h3>What is positioning messages?</h3>

Positioning messages can be defined as message that contain detailed and concise information about how a product are  and how such product tend to meet customers expectations or needs.

Positioning messages as well help to described how a product are including the satisfaction or benefit a consumer can derive from the product.

Therefore based on a selection(s) of POSITIONING messages  is 50%.

Learn more about positioning messages here:brainly.com/question/14293602

#SPJ1

8 0
2 years ago
Pizza International, Inc., reported the following information (in thousands): Operating Activities Net Income $ 236 Depreciation
Aleks04 [339]

Answer:

$22,640

The explanation is shown below:-

Explanation:

The computation of cash flow from operating activities using the direct method is shown below:-

                               Direct method

                            Pizza International, Inc.

                          Statement of cash inflow

Cash flow from operating expenses

Cash received from customers       $143,777

($143,951 - $174)

Cash Paid

To suppliers                                      ($53,773)

($45,700 - $651 + $8,724)

To salaries and wages                     ($56,855)

For office expenses                         ($7,730)

($7,785 + $668 - $723)

For income tax expenses               ($2,779)

($50 + $2,729)

Net cash inflow from operating

activities                                            $22,640

It is mainly due to no depreciation expenses for cash products. Depreciation expenses do not contribute to cash outflows. Because of which company has reported large cash inflow from operations compared to near net loss.

3 0
3 years ago
Rogers Manufacturing's overhead at year-end was underapplied by $5,800, a small amount given the firm's size. The year-end journ
Maksim231197 [3]

Answer:

Date           Account Title and Explanation          Debit     Credit

XXXX          Cost of goods sold                            $5,800

                     To manufacturing overhead                            $5,800

             (Entry for unapplied overhead transfer to cost of goods sold)

3 0
3 years ago
The Bonsai Nursery Corporation has $1,000 par value bonds with a coupon rate of 8% per year making semiannual coupon payments. I
nignag [31]

Answer:

9.78%

Explanation:

The yield to maturity can be determined using the rate formula in excel as shown below:

=rate(nper,pmt,-pv,fv)

nper is number of times coupon interest would be paid,which is 12 years multiplied by 2(semi-annual interest payment) i.e 24

pmt is the semi-annual interest which is $1000*8%/2=$40

pv is the current price of the bond at $876.40

fv is the face value of the bond which is $1000

=rate(24,40,-876.40,1000)=4.89%

Semi-annual yield is 4.89%

Annual yield is 4.89%*2=9.78%

The yield to maturity on these bonds is approximately 9.78%

6 0
3 years ago
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