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IrinaVladis [17]
3 years ago
9

Morris Company self-insures its workers compensation loss exposure. The risk manager of Morris Company is concerned about the po

ssible impact of a single catastrophic claim. She decided to set a retention limit of $500,000 per-claim, and to purchase insurance that will be begin to pay once Morris Company has paid $500,000 on a single claim. The insurance the risk manager purchased is called
A) captive insurance.
B) excess insurance.
C) primary insurance.
D) umbrella insurance.
Business
1 answer:
Lady_Fox [76]3 years ago
3 0

Answer:

B) excess insurance.

Explanation:

An excess insurance policy covers any risk of loss beyond the scope of a primary insurance coverage. When a company purchases excess insurance, they do not have to pay any money in case a claim or a loss exceeds their primary insurance policy. It's basically having a double insurance in case your loss is too large, the second insurance will take care of it.

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Answer:

the Cowry Shell

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The Cowry Shell were being used in the world as early as 700 BC in China. It is considered durable. For many years, cowries shell were utilized as a means of exchanges over the areas such as India and Africa, southern Europe, and China.

However, alcohol and cattle have never served as a general means of exchange, only on a few occasions used as a trade by barter. While gold can be remade in a less original version using less expensive metals and painting.

Hence, in this case, the right answer is THE COWRY SHELL

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3 years ago
The fasb's conceptual framework classifies gains and losses based on whether they are related to an entity's major ongoing or ce
andre [41]

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<h3>What does Conceptual Framework say about profit and loss?</h3>
  • The Exposure Draft proposed that, because profit or loss is the primary source of information about an entity's financial performance for the period, the framework should include a presumption that all income and all expenses will be included in that statement.
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To learn more about Fasb gain and loss, refer

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7 0
1 year ago
sales forecasts . multiple select question. should not be used for audit decisions help auditors understand management's strateg
Anna [14]

Sales forecasts <u>help auditors understand </u><u>management's strategy</u>

<u>can be used in valuing </u><u>inventory</u>

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What are sales forecasts?

A sales forecast is an indication of predicted sales revenue. What your business expects to sell during a specific time period is estimated by a sales forecast (like a quarter or year). The most accurate sales projections do this. By providing knowledge of the probable behavior of your most valued clients, sales forecasting aids in achieving this revenue efficiency. In addition to enhancing pricing, advertising, and product development, you may forecast future sales. The ability of your business to predict future revenues across particular time periods in order to better manage resources is one of the benefits of sales forecasting.

To learn more about sales forecast click on the given link:

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4 0
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Relationships influence the meanings that are given to words.<br> O True<br> O False
Elena-2011 [213]
......................True
4 0
3 years ago
What is the term for how much the insurance company will pay?
Annette [7]
C coverage because it’s money to pay for the accident etc.
4 0
3 years ago
Read 2 more answers
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