Uninsurable risk : The risk cannot be estimated and not probable to forsee
Example : You cannot insure you losing or winning the lottery
Insurable Risk : If the risk is can be estimated and probable to forsee
Example : A football player insure their legs from potential injury
hope this helps
Answer:
<u>liability</u>, <u>asset </u>
Explanation:
Liability refers to a future obligation in monetary form which must be discharged by a business. Liabilities are classified on the basis of due period into current and long term. For instance payment due to a supplier, loan for repayment.
Assets on the other hand refer to something which yields future economic benefits. Assets could be in tangible fixed form, movable form or intangibles such as Goodwill.
In the given case, from the purpose of bank, acceptance of deposits constitutes a liability since the bank has to pay such deposits whenever required by the customer.
Similarly, lendings by a bank represent an asset since the bank would receive such sum coupled with interest at a future date.
Answer:
(a) Given that a chip passes the test, what is the probability that it is a good chip?
LetB = {the chip is good}
A={the chip passes the cheap test}.
Bc={the chip is bad}
Ac={the chip fails the cheap test}
P(A | B) = 1
P(A | B
c
) = 0.075
= 
= 
≈ 0.9751
(b) If the company sells all chips that pass the cheaper test, what percentage of sold chips will be bad?
P(B
c |A) = 1 − P(B | A) = 1 - 0.9751 = 0.0249
Gross Net Income ✌hope this helps because i just had to ask my business teacher on the phone
Answer:
C) The friend may sell the land only after formally foreclosing on the property.
Explanation:
The friend is not the current owner of the land, but he will be if he forecloses the property. The friend received the deed for security purposes, but the ownership was not transferred. This deed can be treated as a mortgage and the friend (creditor) needs to foreclose it thorough a judicial actions before being able to sell it to a third party.
The friend may sell the land, but only after formally foreclosing
