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3 years ago

What is not part of all contracts?

2 answers:

6 0

Premium is not included in all contracts.
Offer is very important, time requirements is also a must in a contract, consideration is also stated in the contracts, but premium is not included in the contract.

LuckyWell [14K]3 years ago

4 0

I believe the answer is: C. premiums

Premium refers to the amount of payment made by the insured periodically in order to ensure that the contract is still active. Even though this is a formal obligation for the insured, the numbers of premium usually provided in a different document outside the contract.

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Mary Walker, president of Rusco Company, considers $23,000 to be the minimum cash balance for operating purposes. As can be seen

scoundrel [369]

Answer:

Cash Basis adjustments -12,000

Explanation:

Adjustments to convert company's income statement to cash basis:

Depreciation Expense $20,000

Gain on sale of long term Investment - $ 10,000

Loss on sale of equipment $2,000

Increase in Account receivable -$40,000

Decrease in Prepaid Expense $4,000

Increase in Inventory -$50,000

Increase in Accounts Payable $63,000

Decrease in Accrued Liability -$9,000

Increase in Deferred Tax Payable $8,000

6 0

3 years ago

Assume that IBM leased equipment that was carried at a cost of $120,000 to Swander Company. The term of the lease is 6 years beg

expeople1 [14]

Answer:

Date Account titles and Explanation Debit Credit

Dec 31, 19 Lease receivables $150,001

Cost of goods sold $120,000

Sales $150,001

Equipment $120,000

(To record the lease)

Dec 31, 19 Cash $30,044

Lease receivables $30,044

(To record the receipt of lease installment)

3 0

2 years ago

____________ are the economic resources of a business that are expected to be of benefit in the future. Liabilities represents t

Mars2501 [29]

Answer:

Assets are the economic resources of a business that are expected to be of benefit in the future. Liabilities represents the claims to the stockholders' equity held by the stockholders of the business.

Explanation:

The accounting equation formed the basis for what is today termed as the double-entry system of accounting. It involves the balance of assets on one side and liabilities and share holders equity on the other side. When recording accounting statements after a certain financial period, the total assets should be equal to the sum of the liabilities and the shareholder's equity. The accounting equation can be expressed as follows;

Assets=liabilities+shareholder's equity

The assets are all the items owned by a company or business that are of economic value to that particular company. The assets are often expected to be of future benefit. Liabilities of the other hand represents the claims to the stockholders' equity held by the stockholders of the business. The stockholder's equity is the shared value that the stockholder's will receive when the assets and liabilities are liquidated.

8 0

3 years ago

Any part of a machine which————

romanna [79]

C) Moves
You’re welcome! :)

5 0

2 years ago

Jing, a recent engineering graduate, never took engineering economics. When she graduated, she was hired by a prominent engineer

serious [3.7K]

Explanation:

Since measuring the effective interest rate and effective interest rate of 4,6% multiplied per month, the effective rate was 4,6980 dollars annually, so she did not use the right option and preferred the lower rate because she was on a lower rate of return while she was a continual companion.

In this issue, the rate of interest has Adjusted and the interest rate paid for this monthly compound is higher than what the interest rate is offered. The rate of the continuous compounds is also higher than the rate of interest offered on the monthly compounding.

8 0

3 years ago