The feature of the insurance contract that is being described above is the aleatory contract. It is the type of contact where the individual that has been involved can't handle or control the event that could happen to him or her. It is a way of having uncertain events happening in the individual such as death or natural disasters that she or he could face.
Answer:
$1,209,100
Explanation:
The computation of the cost of the ending inventory as on Dec 31,2021 is shown below:
= Inventory as on Dec 31,2019 + {(Inventory as on Dec 31,2021 ÷ 2021 price index × 2019 price index) - Inventory as on Dec 31,2019} × 2021 price index ÷ 2019 price index
= $1,000,000 + {($1,439,100 ÷ 1.23 × 1) - $1,000,000} × 1.23 ÷ 1
= $1,000,000 + ($1,170,000 - $1,000,000) × 1.23
= $1,000,000 + $209,100
= $1,209,100
Answer:
D) Marketing, Production/Operations, and Finance/Accounting
Answer:
Commercial General Liability Policy will not provide compensation for injured caused by softball to the Director
Explanation:
Commercial General Liability (CGL) is an insurance policy that provide protection and assurance to a business organisation against any legal liability arising from the use of its property, while in the premises of the insured, from use of product.
The Commercial General Liability provides the coverage below:
-Liability arising from Bodily injury and property damage
-Liability arising from Personal and advertising injury and Medical payments
In this director scenario, the CGL have in its provision and condition to provide compensation for the injury caused as a result of their actions (e.g. building collapse, left broken bottles, bad product which directly affected third party) but the director was injured by his own accompanied property and have no relation whatsoever with the Land company. Hence no indemnity or compensation will be provided under the Commercial General Liability Policy.
Answer:
Investment Spending or Capital Expenditure.
Explanation:
Capital Expenditure or Investment Spending mainly deals with business expenditure on capital goods or factor/inputs of production which are used in the production process.
