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8090 [49]
3 years ago
6

Suppose you found out that the Japanese are on the verge of introducing their own mayonnaise substitute next month. Sam does not

know this and has just turned down your final offer for the insurance. Assume that Sam tells you SCAM is only six months away from perfecting its mayonnaise substitute and that you know what you know about the Japanese. Would you raise or lower your policy premium on any subsequent proposal to​ Sam? Based on his​ information, would Sam​ accept? A. You would raise your policy premium substantially and Sam would not accept because he​ doesn't know about the Japanese. B. You would raise your policy premium substantially and Sam would accept because the higher premium would signal there was a greater chance of a loss. C. You would not offer Sam a policy at any premium because given the new​ information, Sam will almost certainly sustain a loss.
Business
1 answer:
fiasKO [112]3 years ago
4 0

Answer: A. You would raise your policy premium substantially and Sam would not accept because he​ doesn't know about the Japanese.

Explanation:

In such a scenario as the one described above, the best option as an Insurance Agent is indeed to raise premiums substantially.

As the Japanese will most probably get to market first with the new Mayonnaise Substitute, they will have the rights to it's invention and could even patent it.

This means that Sam and SCAM will most likely suffer a loss as a result of this.

As there is such a high chance of loss, charging a substantially higher premium to enable coverage is only logical and makes business sense.

Sam does not know however that the Japanese are so far ahead and having rejected a substantially lower offer, will reject the newer, substantially higher one as well.

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Steve is in charge of accounting for the purchase of equipment at Cal Works, Inc. The company has a policy that all expenditures
Svetlanka [38]

Answer: Materiality

                   

Explanation: In simple words, materiality refers to the accounting concept which states that only those transaction should be recorded in the financial statements which are important to the stakeholders.

In other words, the transactions should be recorded in such a way that it gives some value to the stakeholders.

Therefore, in the given case, steve reported two expenditures in the fiancial statement as the amount is significant, thus,must be holding the value to stakeholders.

Hence the correct option is D.

5 0
3 years ago
When Patrick was talking with his customer about the new accounting system, his customer mentioned that she thought the new syst
cupoosta [38]

Answer:

The question lacks answers:

<em>a. overcoming reservations </em>

<em>b. generating and qualifying leads </em>

<em>c. the presentation </em>

<em>d. the preapproach </em>

<em>e. follow-up</em>

The answer is: a. overcoming reservations

The answer can be formulated as - handling objections

Explanation:

The sales presentation process usually follows the sequence:

<em>generating and qualifying leads  -> the preapproach  -> the presentation  -> overcoming reservations  -> closing -> follow-up</em>

The part of overcoming reservations is one of the most critical parts of the sales process, as it includes the addressing of the potential concerns a lead may have. This is the part when most salespeople end the whole process, as they are mostly not prepared to argument their sales pitch.

In this example, Patrick is confident and persistent in his efforts to emphasize the benefits of the system, even though the client expressed some concern about it. Patrick successfully overcame the client's reservations by explaining the benefits further.

6 0
3 years ago
Which of the following did management at Zappos do to reduce the level of formalization in their organization?
melamori03 [73]

Answer:

A. They avoided asking their customer service reps in call centres to follow a detailed script.

Explanation:

Formalisation refers to the manner in which the company follows extra depth of procedures and takes extra unnecessary care of the customers, or even in the internal procedures of organisation also.

For the customers perspective, we have:

As asking their customers for service reps again and again will make the entire process formalised, and leaving it on the discretion of customers that when they want to avail the service makes it less formal and comfortable for customers.

Thus, avoiding the detailed script with some unnecessary details every time and following up again and again the function becomes less formal and comfortable.

Final Answer:

Option A

6 0
3 years ago
Should the job seeker's name should be the biggest element of the résumé?
givi [52]
No, because that's the name they're born with. It has nothing to do with how well they can or cannot do the job.
6 0
3 years ago
Read 2 more answers
Based on the following information from Schrute Company's balance sheet, calculate the current ratio. Current assets $ 141,000 I
FrozenT [24]

Answer:

2.47

Explanation:

Current ratio measure Liquidity of the firm and is calculated as ;

Current ratio = Current Assets ÷ Current Liabilities

Where,

Current Assets = $ 141,000

Current Liabilities = $57,000

Then,

Current ratio = $ 141,000 ÷ $57,000

                     = 2.47

8 0
2 years ago
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