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3 years ago

Difference between compulsory and non-compulsory insurance

1 answer:

7 0

Compulsory insurance is a type of insurance that is required by law before you can engage in specific activities. This kind of insurance is meant to protect you from harm in some way, an example would be the legal requirement to have auto insurance to drive a car or having health insurance in the United States.

Non compulsory insurance is pretty much everything that you are not required to have, insurance such as travel insurance, life insurance, phone insurance, etc. Although it is a good idea to get these, they are not required.

Non compulsory basically means voluntary while compulsory means required.

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Which term describes the cost to replace property minus the deduction for depreciation?

Natasha_Volkova [10]

Answer:

The correct answer is b) Actual cash value.

Explanation:

Insurance industry’s ACV is define as "the cost to replace with new property of like kind and quality, less depreciation. Courts have varied in their rulings as to whether or not depreciation includes obsolescence (loss of usefulness as a result of outmoded design, construction, etc.)."

5 0

3 years ago

Kendall is __________ because he feels a strong sense of responsibility for his work and regularly does more than his job requir

mezya [45]

Answer:

Explanation:

In this statement, Kendall is an active follower because he pushes himself in his work and tries to provide as much value to his employer as possible. This includes giving ideas, perfecting his work, and even going above and beyond by doing tasks that are not part of the job description to simply help out. On the other hand, Cora is a conformist because she follows orders exactly as they are given regardless of whether they are unethical or may cause problems with the other co-workers.

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2 years ago

Rexford Corporation produces three products, with costs and selling prices as follows: Product A Product B Product C Machine hou

Alex787 [66]

Answer:

$9,400

Explanation:

For computing the maximum contribution margin we need to do following calculations

Contribution Margin

Product A = ($12 ÷3) = 4

Product B = ($5 ÷ 1) = 5

Product C = ($9 ÷ 2) = 4.50

So, the ranking order would be product B > product C > product A

Now

Total machine hours available = 2,100 hours

And,

Time for making 500 units of B

= 500 × 1

= 500 hours

For making 500 units of C, the time taken is

= 500 × 2

= 1000 hours

So the remaining hours left is

= 2,100 hours - 1,000 hours - 500 hours

= 600 hours

So, for A the manufactured is

= 600 ÷ 3

= 200

And, finally the Maximum contribution margin is

= (200 × $12) + (500 × 5) + (500 × 9)

= $2,400 + $2,500 + $4,500

= $9,400

7 0

3 years ago

For the past 60 years, _____ have been applied to structured tasks such as record keeping, simple clerical operations, and inven

natali 33 [55]

Answer:

<u>Transaction - processing systems</u>

<u>Explanation:</u>

For simplicity, since record-keeping, simple clerical operations, and inventory control are all related to transactions, then transaction-processing systems refer to systems that ensure that such transactions are successfully carried out.

For example, online retail outlets use transaction-processing systems to control inventory, as this system is responsible for noting every successful order of their listing page.

4 0

3 years ago

Kristen Lu purchased a used automobile for $10,100 at the beginning of last year and incurred the following operating costs: Dep

densk [106]

Answer:

Instructions are listed below

Explanation:

Giving the following information:

Kristen Lu purchased a used automobile for $10,100 at the beginning of last year and incurred the following operating costs: Depreciation ($10,100 ÷ 5 years) $ 2,020 Insurance $ 1,100 Garage rent $ 600 Automobile tax and license $ 280 Variable operating cost $ 0.14 per mile

1) 10,000 miles

Insurance= 1,100

Garage= 600

Tax= 280

Variable costs= 0.14*10,000= 1,400

Total= $3,380

Cost per mile= 3380/10000= $0.338

2) The only relevant cost is the variable operating cost per mile. The other costs will exist whether she uses the car or not.

3 0

3 years ago