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myrzilka [38]
3 years ago
13

QUESTION 1 A factor that increases the likelihood of a loss is known as a _______ . 1. Premium 2. Peril 3. Hazard 4. Risk 1 poin

ts QUESTION 2 When we take steps to reduce the occurrence or severity of a risk we are practicing 1. risk avoidance. 2. risk reduction. 3. risk assumption. 4. risk shifting. 1 points QUESTION 3 A situation in which a person is held responsible for the actions of another person is 1. negligence. 2. property damage liability. 3. vicarious liability. 4. comprehensive coverage. 1 points QUESTION 4 A higher deductible amount will reduce the amount paid for collision and comprehensive physical damage insurance. True False 1 points QUESTION 5 Renters property insurance would include coverage for
Business
1 answer:
Paladinen [302]3 years ago
8 0

A factor that increases the likelihood of a loss is known as a 3.<u>hazard</u>

When we take steps to reduce the occurrence or severity of a risk we are practicing<u> 2. Risk Reduction</u>

A situation in which a person is held responsible for the actions of another person is <u>3. Vicarious liability</u>

A higher deductible amount will reduce the amount paid for collision and comprehensive physical damage insurance. <u>TRUE</u>

<u />

Explanation :

  • A hazard is any factor that increases the chance of loss. A hazard is an agent which has the potential to cause harm to a vulnerable target. Hazards can be both natural or human induced. Sometimes natural hazards such as floods and drought can be caused by human activity.
  • Risk Reduction is a measures to reduce the frequency or severity of losses, also known as loss control. May include engineering, fire protection, safety inspections, or claims management.
  • Vicarious liability, also known by the Latin term respondeat superior is the holding of a person or entity responsible for damages or harm caused by someone else. The legal principle of vicarious liability applies to hold one person liable for the actions of another when engaged in some form of joint or collective activity.
  • A deductible is the amount you pay for health care services each year before your health insurance begins to pay. The lower a plan's deductible, the higher the premium. You'll pay more each month, but your plan will start sharing the costs sooner because you'll reach your deductible faster.

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Swifty's Market used the perpetual method to record the following events involving a recent purchase of inventory:
butalik [34]

Answer:

Inventory balance will be of 73,318

Explanation:

Inventory                     75,400

     Account payable                75,400

to record goods received

Account payable           1,300

           Inventory                          1,300

to record return of goods

Inventory                          700

            Cash                                  700

to record payment of freight

Account Payable        74,100

            Inventory                         1,482

            Cash                              72,618

to record payment of invoice within discount period

75,400 - 1,300 = 74,100

74,100 x 2% = 1,482

Inventory balance:

<em>   DEBIT         CREDIT</em>

 75,400

                       1,300

      700

                       1,482

<u><em>balance: </em></u>

  73,318

8 0
3 years ago
If an item tends to be very expensive to repair, how might that affect your decision to purchase a warranty for it?
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You may decide to purchase a warranty because that will be way cheaper than paying to get it repaired a lot of times
3 0
3 years ago
Read 2 more answers
The economy of Elmendyn contains 2,000 $1 bills. a.If people hold all money as currency, the quantity of money is $ . b.If peopl
atroni [7]

Answer:

(a) $2,000

(b) $2,000

(c) $2,000

(d) $8,000

(e) $3,200

Explanation:

Given that,

Number of bills = 2,000

Worth of each bill = $1

(a) If people hold all money as currency, then the quantity of money is determined as follows:

= Number of bills × Worth of each bill

= 2,000 × $1

= $2,000

(b) If people hold all money as demand deposits and banks maintain 100 percent reserves,

Money multiplier = 1/ Reserve requirement ratio

                            = 1/1

                            = 1

Quantity of money:

= Money multiplier × Demand deposits

= 1 × $2,000

= $2,000

(c) If people hold equal amounts of currency and demand deposits and banks maintain 100 percent reserves,

Therefore,

Currency = $1,000

Demand deposits = $1,000

Quantity of Money:

= Currency with public + Demand deposits

= $1,000 + $1,00

= $2,000

(d) If people hold all money as demand deposits and banks maintain 25 percent reserves,

Money multiplier = 1/ Reserve requirement ratio

                            = 1/0.25

                            = 4

Quantity of money:

= Money multiplier × Demand deposits

= 4 × $2,000

= $8,000

(e) If people hold equal amounts of currency and demand deposits and banks maintain 25 percent reserves,

Now, we know that

Currency = Demand deposits .....(1)

Banks maintain 25 percent reserves,

4 × ($2,000 - Currency) = Demand deposits

4 × ($2,000 - Demand deposits) = Demand deposits

$8,000 = 5 Demand deposits

$1,600 = Demand deposits

Therefore, the currency = $1,600

Quantity of money:

= Currency + Demand deposits

= $1,600 + $1,600

= $3,200

8 0
3 years ago
Which costs will change with a decrease in activity within the relevant range? Select one:
Harman [31]

Answer:

The correct answer is option b.  

Explanation:

The fixed costs refer to that part of the cost of production which is not affected by the volume of activity. The total fixed cost remains constant in the entire production process.

The fixed cost per unit is the ratio of total fixed costs and the level of output. It increases with a decrease in level of activity.

The variable cost is the cost incurred on the variable inputs employed in the process of production. As the level of activity declines the number of variable factors employed will also decline. This will cause the total variable cost to decrease.

6 0
3 years ago
increaingly good leaders seek to transfer some of their authority to subordinates through a process known
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Increasingly good leaders seek to transfer some of their authority to subordinates through a process known DELEGATION.
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