1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Gelneren [198K]
3 years ago
5

A commercial building worth $400,000 is insured under a Commercial Property policy for $240,000, and an 80% coinsurance clause a

pplies. A $20,000 loss to the building has occurred. How much will the insured receive when a claim is filed?
Business
1 answer:
Mekhanik [1.2K]3 years ago
4 0

Answer: $15,000

Explanation: The 80% coinsurance clause on the property means that the insurance policy holder is agreeing to contribute up to 80% of the property's worth. Hence in the event of a loss to the building worth $20,000; the insures policyholder would receive :

(Actual contribution/expected contribution) x value of loss to the property

Where : Expected contribution = 80% of property's worth

ie (80/100) x $400,000 = $320,000

then the insured is to receive: ($240,000/$320,000) x $20,000 = $15,000

You might be interested in
Which of the following is a criticism of the national income and product accounts?
jok3333 [9.3K]

I believe the correct answer among the choices is:

b) They do not capture most nonmarket economic activity

 

<span>The National Income and Product Accounts or NIPA is one of the main sources of the data on general economic activity in the United States. The greatest drawback to this is that it is only a prediction, it does not really reflect all the acitivities.</span>

4 0
3 years ago
Procter &amp; Gamble, the maker of Crest brand toothpaste, has modified this brand to include whiteners. To encourage consumers
Georgia [21]

Answer: B - Staging

Explanation: Staging is the process of addition more features (refurbishing, redesigning) an item for sale to attract customers to the item or product.

This is what P&G has done to one of there product to get the attentions of its consumers.

7 0
3 years ago
In a command economy, decisions about which goods are produced are based on:
Gemiola [76]

Answer:

public sector is the answer because it's right

6 0
3 years ago
Suppose that the price of good X rises from $12.00 to $12.90, and as a result the quantity demanded of good X falls from 5,000 u
ivann1987 [24]

Answer:

The price elasticity of demand is 1.14.

The price is Elastic.

Elasticity is more than one so total revenue will fall.

Explanation:

Given the initial price of good x = $12

Final price of good x = $12.90

% change in price = [(12.90 - 12) / 12] x 100 = 7.5 %

Initial quantity = 5000

Final quantity = 4600

% change in quantity = [(4600 - 5000)/5000] x 100 = -8%

Elasticity = % change in quantity / % change in price

Elasticity = 8% / 7%

Elasticity = 1.14

The price elasticity of demand is 1.14.

The price is Elastic.

Since elasticity is more than one so total revenue will fall.

5 0
2 years ago
A credit granted to a customer for returned goods requires a debit to a. Accounts Receivable and a credit to a contra-revenue ac
12345 [234]

Answer:

d. Sales Returns and Allowances and a credit to Accounts Receivable.

Explanation:

The entry to record credit granted to customer entails :

Decrease the Assets of Accounts Receivable (credit entry) and Decrease the Sales Revenue (debit entry).

The Recognition of Sales Return and Allowance decreases Sales Revenue.

5 0
3 years ago
Other questions:
  • Draiman Guitars is offering 110,000 shares of stock in an IPO by a general cash offer. The offer price is $39 per share and the
    9·1 answer
  • If a purchasing agent must put up a cash deposit for construction services, for security purposes, instead of giving it directly
    5·1 answer
  • If the demand increases by 100%, annual production will have to increase to jaw-breakers next year to meet the expected increase
    13·1 answer
  • The use of mathematical tools such as the application of linear programming for optimizing operations and the statistical proces
    9·1 answer
  • Suppose that Australia imposes a tariff on imported beef. If the increase in producer surplus is $100 million, the increase in t
    15·1 answer
  • In its first year of operations, Woodmount Corporation reported pretax accounting income of $500 million for the current year. D
    11·1 answer
  • Brea is looking for an insurance policy for her car. Her friend, Justin, who is an attorney, just told her that the policy is a
    13·1 answer
  • Sam and sadie charge people to park on their lawn while attending a nearby craft fair. at the current price of $10, eight people
    7·1 answer
  • Rearden Metal has earnings per share of $2. It has 10 million shares outstanding and is trading at $20 per share. Rearden Metal
    15·1 answer
  • Below is the simple process model. What development activity would you choose to add first to this process and why?
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!