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3 years ago

Mention any five essential elements required for insurance contract

Business

1 answer:

tatyana61 [14]3 years ago

4 0

Answer:

These elements are definable risk, a fortuitous event, an insurable interest, risk shifting and risk distribution. in addition, there is a very important legal difference between a reserve and an insurance company.

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During March, the production department of a process operations system completed and transferred to finished goods 35,000 units

kotegsom [21]

Answer:

Direct Labor Equivalent unit cost : $5,415463

Explanation:

$\left[\begin{array}{ccccc}\\ &$Units to be assigned costs:&&Equivalent Units&\\&&$Whole Units&Materials&Conversion\\&$Beginning&35000&35000&17500\\&$Started and completed&71000&71000&71000\\&$transferred&106000&106000&106000\\&$ending&39000&39000&11700\\&$Total units to be assigned costs&145000&145000&117700\\\end{array}\right]$

<u><em>Transferred units:</em></u>

beginning + started - ending = transferred

35,000 + 71,000 - 39,000 = 71,000

Labor cost: 581,000 + 56,400 = 637,400

equivalent units for conversion: 117,700

(trasnferrred + percentage of completion ending WIP)

<em><u>Equivalent unit cost:</u></em>

637,400 / 117,700 = 5,415463

7 0

3 years ago

Matthew decides to buy expensive designer jeans. Less expensive jeans are available, but the added cost of the designer brand is

kicyunya [14]

Matthew decides to buy expensive designer jeans. Less expensive jeans are available, but the added cost of the designer brand is worth it to Matthew most likely because His preference is for designer labels, since the assertions made by the other manufacturers, which claim that designer trousers are less expensive, are illogical. This is further explained below.

Generally, payment is required before it can be obtained or completed.

In conclusion, Affluent designer jeans are Matthew's choice. There are cheaper jeans out there, but Matthew most certainly prefers designer labels since the arguments of the other manufacturers, who say that designer pants are less costly, are irrational.

Read more about cost

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5 0

2 years ago

ABC systems ________. Multiple Choice will allocate costs based on the overall level of activity highlight the different levels

lozanna [386]

Answer: highlight the different level of activities

Explanation:

Activity Based Costing system assigns costs to the activity that are used in production and it highlight the different level of activities.

Activity based costing system is quite different from the traditional costing systems based on the way the indirect cost is being treated.

3 0

3 years ago

Daniela is a 25% partner in the JRD Partnership. On January 1, JRD makes a proportionatedistribution of $16,000 cash, inventory

Olenka [21]

Answer: B. $5,000 inventory, $0 accounts receivable

Explanation:

Daniel's basis in JRD is $21,000

Inventory fair value is $16,000

$21,000 - $16,000 = $5,000

Accounts receivable inside basis is $0.

Inside basis is basically each partner's tax basis in the partnership.

8 0

3 years ago

Suzanna was recently promoted to manager and is ready to start her first project with her new team. In order to develop trust an

ki77a [65]

After being recently promoted as a project manager for a new project with a new team, Suzanna must develop trust and establish the work rules by the way of interacting personally with her new team members.

<h3>Who is a project manager?</h3>

A person who is engaged or involved in planning, allocating and finishing a project for an organization, which is a part of the organizational goals, such a person is known as a project manager.

Hence, the significance of a project manager is aforementioned.

Learn more about a project manager here:

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5 0

2 years ago

Mention any five essential elements required for insurance contract​

Mention any five essential elements required for insurance contract