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2 years ago

Auto insurance is needed primarily because of __________. (points : 2)

1 answer:

7 0

<span>Auto insurance is needed primarily because of </span>potential liability claims.

If you don't have it and you don't have insurance, you have to fix your car out of your own money, as well as pay for repairs of other cars if it is proven that it was your fault.

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Foster, Inc., purchased a truck by paying $5,000 and borrowing the remaining $30,000 required to complete the transaction. Ident

neonofarm [45]

Answer: c. Foster Inc.'s assets will decrease by a net amount of $30,000.

d. The Company's liabilities will increase by $30,000.

Explanation:

From the question, Foster, Inc., bought a truck by paying $5,000 and then borrowed the remaining $30,000 that was required to complete the transaction.

Since the company borrowed $30,000, this will lead to an increase in the liability of the company by $30,000. Also, it will lead to a reduction in the net assets of the company by a net amount of $30,000

6 0

2 years ago

Which action will be least helpful if youve been the victim of identity theft

xxTIMURxx [149]

The action that will be the least helpful if you've been the victim of an identity theft is to withdraw your money from all accounts.
This is not something you should do if this happens to you - but rather report this fraud to the officials so that they can fix this for you. They will be able to give you your last credit report and contact any company where you have money so as to let them know to freeze your account for a while until this get solved.

3 0

2 years ago

A company inserts winning prize tickets into 10,000,000 of its products. 1 of the tickets is a large cash prize, 1,600,000 are s

netineya [11]

Answer: Large Cash Prize is A. 0000001

Small Cash Prizes is B. 0.16

Free Samples is C. About 0.84

Explanation:

Large Cash Price

The probability of winning 1 large Cash price is 1 out of 10 million so that would be,

= 1/10,000,000

= 0.0000001 which is option A

Small Cash Prices

Probability of winning a Mall Cash price is 1,600,000 out of 10,000,000 which would be,

= 1,600,000/10,000,000

= 0.16 which is Option B

Free Samples

Winning free samples of the Company's products would be,

= 10,000,000 - 1,600,000 - 1

= 8,399,999

Now we divide by 10,000,000

= 8399999/10,000,000

= 0.83999

= 0.84 so option C

5 0

2 years ago

LeCompte Corp. has $312,900 of assets, and it uses only common equity capital (zero debt). Its sales for the last year were $620

Gnom [1K]

Answer:

LeCompte Corp.

The profit margin that LeCompte Corp. would need in order to achieve the 15% ROE, holding everything else constant is:

A) 7.57%.

Explanation:

a) Data and Calculations:

Assets = $312,900

Common Equity = Assets = $312,900

Sales for the last year = $620,000

Net income after taxes = $24,655

Expected return on equity (ROE) = 15%

ROE (in amount) = $312,900 * 15% = $46,935

Profit margin = Returns on Equity/ Sales * 100

= $46,935/$620,000 * 100

= 7.57%

b) The expected returns on equity in dollars is equal to the net income. Therefore, we can use the ROE to calculate the profit margin. The profit margin expresses the relationship between sales and profit. It shows the profit made from each dollar sales.

4 0

2 years ago

The shareholders' equity of Green Corporation includes $232,000 of $1 par common stock and $430,000 par of 7% cumulative preferr

dalvyx [7]

Answer:

$8,700

Explanation:

Dividends payable to preferred shareholders = [($430,000*7%)*2 - ($23,000*2)] + ($430,000*7%)

Dividends payable to preferred shareholders = [$60,200 - $46,000] + $30,100

Dividends payable to preferred shareholders = $14,200 + $30,100

Dividends payable to preferred shareholders = $44,300

Dividend available to common shareholders = Total dividend - Dividends payable to preferred shareholders

Dividend available to common shareholders = $53,000 - $44,300

Dividend available to common shareholders = $8,700

So, the amount of dividends common shareholders will receive in 2021 is $8,700.

6 0

2 years ago