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tia_tia [17]
3 years ago
15

The Commissioner is empowered to examine the records of any person transacting insurance in the State as an agency, an agent or

broker of record. If the Commissioner does examine a person, the expense of that examination will be paid by
Business
1 answer:
zvonat [6]3 years ago
6 0

Answer:

The person examined.

Explanation:

The California insurance code

This Insurance Code is known as a set of statutes set up by the state legislature and is responsible for the regulation of the business of insurance in California. The Commissioner does not have the authority to change the Insurance Code and only the state legislature has the authority to write or amend the Insurance Code.

The Insurance Commissioner

This office is elected by the people and usually serve up to two 4-year terms. The Commissioner's term runs concurrently with that of the Governor.  The Commissioner has the authority to conduct examinations of an agent or insurer's books and records at any time.

The Insurance Commissioner's Duties and Responsibilities

1. File and keep all books and papers as required by law

2. Responsible for the Issue of  Certificates of Authority to companies that meet the requirements of state law

3. Issue, refuse, revoke or suspend licenses or Certificates of Authority etc.

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The following errors occurred in posting from a two-column journal:
Viefleur [7K]

Answer:

Please find attached solution to the above question

Explanation:

Please find attached solution to the above - a and b

Regarding the error 6,

• The $830 gained increased to accounts payable, hence must be deducted from accounts payable.

• Again, debit $830 for recording the payment.

7 0
3 years ago
Hobson Company bought the securities listed below during 2020. These securities were classified as trading securities. In its De
Wewaii [24]

Answer:

$50,800

Explanation:

Security     Cost       Fair value     Gain(loss)

X              371,000    343,500        -27,500  

Y              185,000     162,400        -22,600  

Z              <u>424,000</u>    <u>407,800</u>        <u>-16,200 </u>

Total        <u>980,000</u>    <u>913,700</u>         <u>-66,300</u>

Unrealized holding loss on Income statement ended June 30,2021 = $66,300 - $15,500 = $50,800

3 0
3 years ago
Money is
Contact [7]

Answer:

a)

Explanation:

money is a valuable because it is backed by gold

8 0
3 years ago
Lawyers, accountants, and other professionals typically price by adding a standard markup for profit. This exemplifies ________.
Korvikt [17]

Answer:

B) cost-plus pricing

Explanation:

hope this helps :)

3 0
2 years ago
Firms such as IKEA and The Home Depot are known for their use of __________ because they set reasonably low prices but still off
Maslowich

Answer:

b. value-based pricing

Explanation:

Value based pricing is a pricing strategy to set price of products based on value perceived by the purchaser. To have increased profit margin, business deduces the number of benefit the product provides to consumer. Then it establishes price which takes consideration of manufacturing cost, competitive price and consumer's willingness to pay price for the goods.

In the question  mentioned IKEA not only provide functional benefit for the product but also quality, design, and services at low prices hence it is an instance of value based pricing.

7 0
2 years ago
Read 2 more answers
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