<span>This illustrates the basic concept that a trade-off is sometimes needed. People can not always get exactly want they want and when this happens they must be willing to sacrifice something to get something back in return. Billy must choose between the guitar or new mp3 player. He will gain one of them but because the trade-off, he will lose the ability to get the other item.</span>
The types of insurance that are required by law are Bodily injury and property damage liability and personal injury protection.
<h3>What do you mean by Insurance? </h3>
Insurance refers to the contract under which an individual is entitled to receive financial protection from the insurance company. Life, health, homeowners, and auto are the common forms of insurance.
These policies are used to hedge the risk of financial losses. The types of insurance required by law are Bodily injury and property damage liability and personal injury protection.
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Answer:
You should make sure you are putting money into it every week, month, or year.
Explanation:
You must make sure you have enough money in the account so if you have some kind of an injury, or you want to buy something that costs lots of money such as a car, or a house, you want to make sure enough money is going into that account.
Answer:
b. Credit to Fair value adjustment for $5,000.
Explanation:
Particulars Amount
Beginning balance of fair value adjustment $20,000
Less: Unrealized gain on Dec 31 <u>$15,000</u>
(515,000 - 500,000)
Credit to fair value adjustment <u>$5,000</u>