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3 years ago

All of the following are true regarding representations except:________

Business

1 answer:

Aliun [14]3 years ago

3 0

Answer:

A. They may be oral or written

Explanation:

Option B is correct because it may be altered or withdrawn after the policy issuance. Therefore, it is not the answer.

Option C is also correct because the representations statements are true.

Option D is also appropriate with the representation must be made before the issuance of the policy or at the time of issuance. Therefore, it is not the answer.

Option A is false because it must not need to be written. Therefore, it is the correct answer.

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A donor gave equipment valued at $90,000 at the beginning of 2020 to a private not-for-profit organization. The equipment had a

Slav-nsk [51]

The net asset would be $81,000 or $0 depending upon the policy of the Non-Profit Organization.

<h3><u>What is a Non-Profit Organization?</u></h3>

A non-profit organization is a group that was established with the intention of making a profit, and in which no part of the organization's revenue is given to its directors, officials, or members.
"Non-stock corporations" are a common moniker for nonprofit organizations.
They may be organized as a corporation, a sole proprietorship, an unincorporated association, a partnership, a foundation, a condominium, or another type of individual enterprise (for instance, individual charitable contributions) (joint ownership of common areas by owners of adjacent individual units incorporated under state condominium acts).
When they are established, nonprofit organizations must declare themselves to be so and are only allowed to work on projects that fall under their legal definition.

The value of the equipment given by the donor = $90,000

The charge of depreciation = $9,000.

The total assets of a business less the total liabilities equals the entity's net assets. The sum of a company's net assets equals its stockholders' equity in whole. Net assets are divided into unrestricted and restricted net assets of a nonprofit organization.

The net asset would be either $81,000 or $0.

Know more about Non-Profit Organization with the help of the given link:

brainly.com/question/21307064

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5 0

2 years ago

Wilturner Company incurs $76,000 of labor related directly to the product in the Assembly Department, $25,000 of labor not direc

coldgirl [10]

Answer:

correct option is b) $76,000 and $37,000

Explanation:

given data

Labor related directly to the product = $76,000

labor not directly related to the product = $25,000

labor for services = $12,000

solution

As here Direct Labor is express as

Direct Labor = Labor related directly to the product ...............1

Direct Labor = $76,000

and

Factory Overhead will be as

Factory Overhead = Labor not directly related to the product + labor for services ,................................2

put here value and we get

Factory Overhead $25000 + $12000

Factory Overhead = $37,000

so here correct option is b) $76,000 and $37,000

6 0

4 years ago

What are you loyal to this provider?

irga5000 [103]

Answer:

Brand loyalty has everything to do with how consumers perceive your brand. This may be through promotional activities, reputation, or previous experiences with your company. Consumers are loyal to a brand because they believe you offer a better service and higher quality than anyone else.

Explanation:

6 0

3 years ago

What advertising media offers live and interactive product demonstrations

astraxan [27]

Answer:

Broadcast media

Explanation:

Advertising media by itself refers to channels through which products are marketed to customers. Broadcast media of advertising such as television are important advertising tool used by companies as they show live demonstration and are interactive. This also includes online media where advertisements can be done over the internet via social media or website browsing.

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3 years ago

Read 2 more answers

Impairment--Natalie Lui Corp is an international Company that uses IFRS. She owns machinery with a book value of $450,000. it is

Jet001 [13]

Answer:

C. $50,000

Explanation:

Under IFRS section IAS 36, an impairment loss results from an asset's carrying value being lower than its fair market value or value in use. In this case, the fair market value of the asset (the price at which it could be sold) is $300,000, while its value in use is $400,000 (discounted to present value). In order to calculate the impairment loss, we must use the highest, in this case the value in use.

Impairment loss = $450,000 (carrying value) - $400,000 (value in use) = $50,000

8 0

3 years ago