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3 years ago

Which is not an advantage of a personal professional liability policy? Select one:

Business

1 answer:

Alexus [3.1K]3 years ago

6 0

The disadvantage of a personal professional liability policy is that it is expensive.

Option - a.

Explanation:

Proficient risk protection (PLI), additionally called proficient repayment protection (PII) yet more normally known as mistakes and oversights (E&O) in the US, is a type of obligation protection which ensures proficient guidance and administration giving people and organizations from bearing the full cost of shielding against a carelessness guarantee made by a customer, and harms granted in such a common claim.

The inclusion centers on supposed inability to perform with respect to, budgetary misfortune brought about by, and mistake or oversight in the administration or item sold by the policyholder. These are foundations for lawful activity that would not be secured by a progressively broad risk protection arrangement which tends to more straightforward types of damage.

Proficient risk protection may take on various structures and names relying upon the calling, particularly medicinal and lawful, and is once in a while required under agreement by different organizations that are the recipients of the exhortation or administration.

Inclusion now and then accommodates the safeguard costs, including when lawful activity ends up being unfounded. Inclusion does exclude criminal arraignment, nor a wide scope of potential liabilities under common law that are not identified in the arrangement, yet which might be dependent upon different types of protection. Proficient risk protection is legally necessary in certain zones for particular sorts of expert practice.

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Which of the following is a true statement? leaving all property to the surviving spouse maximizes the marital deduction and the

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3 years ago

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Beyond the IMS, identify and briefly describe the (exogenous) environmental factors that organizations should consider when perf

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Answer:

1. Environmental factors that organizations should consider are :Political, Economic, Social, Technological, Legal and Environmental factors. Example are interest rates, innovations and laws

2. Internal factors that organizations should take into account in preparing to do a SWOT analysis are strengths (S) and weaknesses (W).Examples are innovation culture, expertise and resources as well as value systems

3. Environmental factors are influencing Ford Motor Company and the rest of the automobile industry are laws (legal-environmental) , interest rates (economic), customers needs depending on geography (social)

Explanation:

The Integrated Management System (IMS) is an internal tool that the Company uses to all of its organization systems and processes into one complete framework which enables the organization to work as a single unit. It however does not tell anything about the environment in which a company operates in.

When performing an external environmental analysis, organizations should consider the PESTLE analysis which tell much about the external environment. PESTLE analysis looks into Political, Economic, Social, Technological, Legal and Environmental factors that are likely to impact an organization strategy.

The SWOT analysis provides a scan of the internal and external environment and is an important part of the strategic planning process. Environmental factors Internal to the organization are classified as strengths (S) and weaknesses (W), and those external can be classified as opportunities (O) and threats (T).

Ford Motor Company and the rest of the automobile industry are mainly influenced by the Legal and Environmental Factors through laws set by countries to reduce carbon emissions in the fight against global warming. Other factors include the ability to innovate (Technological) and meeting the changing customer needs (Social). The profit part is always important as well in these inflationary times so they also need to set prices well (Economic).

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3 years ago

Suppose a local hardware store has explicit costs of $2 million per year and implicit costs of $44,000 per year. If the store ea

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Answer:

$94,000

Explanation:

A local hardware store has explicit cost of $2 million per year

The implicit costs are $44,000 per year

The store earned an economic profit of $50,000 last year

Therefore, the store's accounting profit can be calculated as follows

Accounting profit = Implicit costs + economic profit

= $44,000 + $50,000

= $94,000

Hence the store's accounting profit is $94,000

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3 years ago

On Jan. 2, Callie Taylor invests $40,000 into the business in exchange for common stock. She journalize the transaction as follo

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Answer:

See explanation section.

Explanation:

The correct journal to record this transaction is -

Cash Debit $40,000

Common stock Credit $40,000

Note: As Callie Taylor invests the amount in exchange for common stock, An asset (cash) will be increased, and equity (common stock) will be increased. An increase in asset means debit, while an increase in equity means credit.

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2 years ago

For every decision you make, there is a trade-off. true or false

olga2289 [7]

I believe the correct answer is true. For every decision you make, there is a trade-off. A decision is always accompanied by two choices. One of these choices is the better. Every choice has its own advantage and disadvantage so that a trade off will always be present. Hope this answers the question.

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3 years ago

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