<span>This liability is called the insurer's
"loss reserve".</span>
Loss reserve<span> is
a gauge of an insurer's liability from future cases. <span>Loss reserves</span> most often contain liquid resources,
and they enable the insurer to cover claims made against strategies that it
endorses. Assessing liabilities can be a difficult task. Insurers need to regulate loss reserve
estimations as the situation change.</span>
Answer:
Direct material= $5,600
Explanation:
<u>First, we need to calculate the direct labor added to Work in Process:</u>
Direct labor= allocated overhead / predetermined overhead rate
Direct labor= 6,400 / 0.8
Direct labor= $8,000
<u>Now, by difference, the direct materials:</u>
Direct material= Ending balance - allocated overhead - direct labor
Direct material= 20,000 - 6,400 - 8,000
Direct material= $5,600
Answer:
B. are also part of the value chain
Explanation:
Value chain comprises two activities i.e primary activities and support activities.
The primary activities include those activities which add the value to the customer through inbound logistics, outbound logistics, operations, and marketing sales and services
Whereas the support activities are those activities who support the primary activities. It involves procurement, firm infrastructure, etc
Trade shows show how business is done, and if you know how it's done, you can use it in your company, and if you are the manager, you can help your industry.