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3 years ago

Which statement best describes the term insurance?

Business

2 answers:

dalvyx [7]3 years ago

7 0

It's a protection that guarantees to pay you in the event of financial losses.

Grace [21]3 years ago

3 0

It's a protection that guarantees to pay you in the event of financial losses.

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Corporation has the following equity investments held throughout 2021–2022: Fair Value Cost 12/31/21 12/31/22 $600,000 $800,000

HACTEHA [7]

Answer: $40,000 loss

Explanation:

A balance sheet is also referred to as the statement of financial position and it is a summary of financial balances of an economic agent i.e individual or organization.

The amount that would be reported as accumulated other comprehensive income related to investments on the balance sheet at December 31, 2022 will be:

= 800,000 - $760,000

= $40,000

There will be a $40,000 loss because the fair value on 12/31/21 of $800,000 is higher than the fair value of $760,000 on 12/31/22.

8 0

3 years ago

If there is a greater quantity supplied than the quantity demaded ( an excess supply of a good or service) you are most likely d

gizmo_the_mogwai [7]

A) price ceiling set below the equilibrium price

8 0

3 years ago

At the beginning of Year 1, Copeland Drugstore purchased a new computer system for $270,000. It is expected to have a five-year

gogolik [260]

Answer:

Depreciation Straight Line Expense= 230,000/5= $ 46,000

Explanation:

Depreciation Straight Line Method= Cost - Salvage Value/ Useful Life

Depreciation Straight Line Method= $270,000- $40,000/5

Depreciation Straight Line Method= 230,000/5= $ 46,000

As it is straight line depreciation each year the depreciation expense will be the same . It will not change and hence will be $ 46,000

Straight Line Rate= 100%/ useful Life= 100%/5 = 20%

Double Declining Method = 2 * Straight Line Rate

Double Declining Method = 2 * Straight Line Rate= 2*20%= 40%

Year Book Value Dep Rate Dep Expense Accu. Dep. Book Value

1 $ 270,000 40% $ 108,000 108,000 162,000

2 $ 162000 40% 64,800 172,800 97,200

3 97,200 40% 38,880 211,680 58,320

4 58,320 40% 23328 235,008 34,992

5 32,992 40% 13997 249,005 20,995.2

3 0

3 years ago

If the amount realized at a Sheriff's sale upon a delinquent mortgage is more than the indebtedness, the excess belongs to:_____

timofeeve [1]

Answer: The mortgagor

Explanation:

If the amount realized at a Sheriff's sale upon a delinquent mortgage is more than the indebtedness, the excess belongs to the mortgagor.

It should be noted that the mortgagor is the borrower, therefore he or she is the person that is entitled to the excess received upon the sake of the asset.

4 0

4 years ago

An Uber driver faces costs for driving that include sunk costs like insurance that contribute to the average cost per mile of $.

crimeas [40]

Answer: sunk costs don't increase as driving increases.

Explanation: sunk costs are irrelevant costs because they have already occured in the past and cannot be avoided. Sunk costs thus do not differ between alternatives, and are unavoidable. The calculation for insurance and other sunk costs are likely not based on the amount of rides the Uber picks up, but rather calculated at a constant rate. So regardless of whether or not the rider pays more or less than the $.50 on the insurance, this will not have any effect on the insurance that is constant and has likely already been paid out.

4 0

3 years ago