Answer:
Total Claim = $2416
Explanation:
The coverage on the currency = $250
The coverage on the jewelry = $1000
The limit on the gold, pewter, and silver = $2500
The amount that is stolen:
The amount of cash = $270
The worth of jewelry = $1734
Pewterware = $1666
The miximum coverage = 250 + 1000 + 2500 = $3750
Actual loss = 270 + 1734 + 1666 = $3670
Reimbursement amount = 250 + 1000 + 1666 = $2916
Total Claim = Total Amount Covered – Deductible
Total Claim = $2916 - $500 = $2416
Answer: underwriter
Explanation:
The loan underwriter is responsible for verifying the information provided by a borrower. They will then use this information to assess the risk that the lender is going to incur if they lend money to the borrower.
When this is done, a pre-approval letter is issued which shows the amount that the lender is willing to lend to the borrower.
a market that experiences perfect competition, prices are dictated by supply and demand. Firms in aperfectly competitive market are all price takers because no one firm has total market control. Unlike amonopolistic market, firms in aperfectly competitive market have a small market share
Answer:
$44,000
Explanation:
Calculation for the equivalent units for materials
Using this formula
Equivalent unit of material = Completed and transferred out+Normal spoilage+Ending work in process
Let plug in the formula
Equivalent unit of material = $33,000+$3,000+$8,000
Equivalent unit of material = $44,000
Therefore Using the weighted-average method, the equivalent units for materials are $44,000
Answer: The sporting event takes place.
Explanation:
By the Revenue Recognition principle of Accrual based accounting, revenue is only to be recognized when it is earned. In other words, it should only be recognized if the service or good that was paid for has been delivered.
In the above scenario, the service to be delivered is the sporting event. As such, the event promoter should only recognize the revenue when the sporting event is delivered by taking place if they are going by the Revenue recognition principle which is a principle recognized by both U.S. GAAP and IFRS.