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Anastasy [175]
3 years ago
8

Jan pays $70 each month for her auto insurance policy. This regular payment is called a : A.) co-pay. B.) deductible. C.) premiu

m. D.) claim
Business
2 answers:
ipn [44]3 years ago
8 0

<u>The answer is "C.) premium".</u>


Premium is a sum paid occasionally to the insurer by the insured for covering his risk.  

In an insurance contract, the risk is exchanged from the guaranteed to the back up plan. For going out on a limb, the guarantor charges a sum called the premium. The premium is an element of various factors like age, kind of work, medicinal conditions, and so on. The statisticians are depended with the duty of finding out the right premium of a guaranteed. The premium paying recurrence can be unique. It tends to be paid in month to month, quarterly, semiannually, yearly or in a solitary premium.

Ivanshal [37]3 years ago
4 0
I may be wrong but I think its D) claim
:3
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a company bought a piece of equipment for A200 and expects to use it for eight years. The company that plans to
chubhunter [2.5K]

Answer:

The correct option <u>b. $2,567</u><u>.</u>

Explanation:

Note: This question is not complete. The complete question is therefore provided before answering the question as follows:

A company bought a piece of equipment for $49,200 and expects to use it for eight years. The company then plans to sell it for $4,000. The company has already recorded depreciation of $42,632.60. Using the double-declining-balance method, what is the company's annual depreciation expense for the upcoming year? (Round your answer to the nearest whole dollar amount.)

a. $11,300.

b. $2,567.

c. $19,200.

d. $1,642.

The explanation to the answer is now given as follows:

Note: See the attached excel file for the calculation of the annual depreciation expenses.

Double declining depreciation method is an accelerated depreciation technique due to the fact the depreciation expenses are charged faster under it than under straight-line depreciation method.

The depreciation of double declining method is calculated by by multiplying the rate of straight-line depreciation method by 2.

From the question, the already recorded depreciation of $42,632.60 is the accumulated depreciation expenses for the 7th year.

Since the upcoming year is the 8th year which is the last year, the depreciation expense for it can be calculated as by adjusting for the residual value of $4,000 follows:

Equipment cost = $49,200

Accumulated Depreciation = $42,632.60

Residual value = $4,000

Estimated useful life = 8 years

Therefore, we have:

Straight line method depreciation rate = 1 / Estimated useful life = 1 / 8 = 0.125, or 12.50%

Double declining depreciation rate = Straight line method depreciation rate * 2 = 12.50% * 2 = 25%

Beginning book value of the equipment in the upcoming year or in the 8th year = Equipment cost - Accumulated Depreciation = $49,200 - $42,632.60 = $6,567.40

Annual depreciation expense for the upcoming year or for the 8th year = Beginning book value of the equipment - Residual value = $6,567.40 - $4,000 = $2,567

Therefore, the correct option <u>b. $2,567</u><u>.</u>

Download xlsx
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3 years ago
Olivia is considering working a secretary job for a small law firm. Given the opportunity costs of working the job, she will not
SOVA2 [1]

What would likely raise Olivia's reservation wage is if Olivia learns that the job is more challenging than she initially thought

Reservation price is the least amount of wage that a worker would be willing to accept for services rendered.

<em><u>Factors that lead to changes in reservation wages</u></em>

  • Finances: a worker that is in debt or in desperate need of money would have a lower reservation wage when compared with a person that is debt-free. For example, the reservation wage of a billionaire would be higher than the reservation wage of an homeless individual.
  • Nature of the job: the more challenging a job is, the higher the reservation wage that would be demanded by a worker.
  • Length of unemployment: the longer a person has been unemployed for, the lower the reservation wage.

To learn more about reservation wage, please check: brainly.com/question/14293413?referrer=searchResults

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