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gtnhenbr [62]
2 years ago
14

The main function of insurance is to Group of answer choices make healthcare free. reduce total spending on healthcare. pool the

risks of healthcare costs. all of the above.
Business
1 answer:
Mkey [24]2 years ago
7 0

Answer:

pool the risks of healthcare costs.

Explanation:

In Insurance, risk tolerance refers to the willingness of an individual or organization to take a risk in business transactions in order to get a potentially positive reward.

Simply stated, risk tolerance in insurance is the willingness of an insured individual to increase his or her Self-Insured Retentions (SIRs) or deductibles by the insurer. For instance, the high risk associated with investments such as stocks, high-yield bonds, is often perceived by investors to be worth the higher reward such investment brings.

Generally, insurance companies across the globe charge millions of their customers (insured) premiums every year. This gives them the privilege of having a pool of cash which can be used to cover the cost of losses and destruction to the asset of a small fraction or percentage of its customers.

This simply means that, since insurance companies collect premium from all of their customers for losses which may or may not occur, so they can easily use this cash to compensate or indemnify for losses incurred by those having high risk.

Hence, the main function of insurance is to pool the risks of healthcare costs.

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Define corporate culture. What are the components of a good corporate culture? Why do you think that corporate culture has such
ycow [4]

Answer:

Corporate culture, also known as company culture, refers to a set of beliefs and behaviors that guide how a company’s management and employees interact and handle external business transactions

6 0
3 years ago
What are the difference classifications for deposit account
erma4kov [3.2K]

Answer:

Deposits accounts classified as currents accounts, savings accounts and money market accounts.

Explanation:

Deposit account is a kind of savings account which allows the person or an individual to deposit or withdrawn the money by the account holder. These transactions are recorded in the banks books and the resultant balance will be reported as a liability for the bank.

The several different kinds of deposit accounts involves money market accounts, current accounts, call deposit accounts, Certificates of deposit (CDs) and savings accounts.

5 0
3 years ago
As the price level falls a. people will want to hold more money, so the interest rate rises. b. people will want to hold more mo
icang [17]

Answer:

The answer is C.

Explanation:

As the general price level decreases or falls, people will want to hold less money, so the interest rate falls.

As price level falls, value of money decreases because a unit of money will more of goods or services.

During this period people will want to hold less money because of the decrease in value and the excess money will be deposited in banks.

With this, the banks have more money to lend out and this will make the bank to reduce its Interest rate.

8 0
3 years ago
On March 1, Bartholomew Company purchased a new stamping machine with a list price of $77,000. The company paid cash for the mac
nikdorinn [45]

Answer:

$81,020

Explanation:

The cost of the asset includes the cost of purchase less any given discount or tax returns and the addition of other cost incurred in making the asset available for use.

As such, the cost of the machine

= $77,000 - (5% * $77,000) + $2,000 + $4,520 + $1,350

= $81,020

The routine maintenance cost is not a part of the asset but an expense in p/l.

8 0
3 years ago
Sheffield Corporation exchanged 2750 shares of Pharoah Company common stock, which Sheffield was holding as an investment, for e
AveGali [126]

Answer: Please refer to Explanation

Explanation:

When recording Equipment here the value of the shares at current value should be used and not the cost of the equipment.

DR Equipment $162,250

CR Investment in Pharaoh Company $137,500

CR Gain on Exchange $24,750

(To record Exchange of shares for Equipment)

Workings.

Investment in Pharaoh Company.

= 2,750 shares * $50(purchase price)

= $137,500

Gain on Exchange

= 2,750 shares * (Market Price - Purchase Price)

= 2,750 shares * ( 59 - 50)

= $24,750

Equipment.

= Investment in Pharoah Company + Gain on Exchange

= 137,500 + 24,750

= $162,250

6 0
3 years ago
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