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2 years ago

Mention any five essential elements required for insurance contract

Business

1 answer:

tatyana61 [14]2 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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When pooling variances, the resulting value will be closer to the variance for the sample with the smaller number of scores.?

Mila [183]

Answer:

False

Explanation:

The reason is that the net difference depends upon the efficiency of the company and doesn't always gives a smaller number of score. There numerous examples like Nestle which integrated its finance departments and other departments which generated greater value for the company in the same year above the budget set. So when the company starts control costs with its greater efficiency achievements the favourable variance starts growing and vice versa.

6 0

3 years ago

Read 2 more answers

On Tuesday, Smokey had taken off his watch, which he had found laying on top of a trash can at the curbside, and placed it on th

Sedbober [7]

Answer:

<em>Rick owned the watch.</em>

Explanation:

In the scenario given above between Smokey and his group of friends, it is a complicated situation. Initially, Smokey owes the watch but it was stolen by his friend in his house. His friend ended selling it to other person which finally ended up being paid for by Rick after it has exchanged so many hands.

<em>Since Rick had a valid transaction where he paid for a goods for a certain amount of money, it would be validly recognized as the owner of the watch.</em>

4 0

3 years ago

Morgan Company issues 10%, 20-year bonds with a par value of $720,000 that pay interest semiannually. The current market rate is

faust18 [17]

Answer:

$36,000

Explanation:

Calculation for the amount to be paid to the bondholders for each semiannual interest payment

Using this formula

Semiannual interest payment = Face value Amount*Interest Rate*Time

Let plug in the formula

Semiannual interest payment = $720,000*0.10*0.50

Semiannual interest payment = $36,000

The amount paid to the bondholders for each semiannual interest payment is $36,000

7 0

2 years ago

Based on this income statement for Company ZYX for the year ending December 31, 2014, what adjustment would need to be made to N

tresset_1 [31]

Answer:

a) Adjustment of (16,000) in the Operating Section

Explanation:

The adjustment required in the operating activities section of the cash flow statement is shown below:

Loss of sale of equipment $30,000

Less: Gain on sale of debt investment -$46,000

The net deduction is $16,000

Since there is a loss on sale of an equipment so the same is to be added back and there is a gain on sale of investment with respect to debt so the same is to be deducted

hence, the correct option is a.

6 0

2 years ago

High Plains Inc. manufacturers furniture in North Dakota. High Plains receives its wood from a lumber yard in Calgary. The lead

ArbitrLikvidat [17]

Answer:

a. On average, the number of boards they have on order = 1,056 boards.

b. On average, the number of boards they have =560 boards.

c. Total holding cost per week = $140.

d. Holding cost incurred per board = $ 0.25.

Explanation:

In the question, the details given are:

Service level =96 %

Lead time =3 weeks

Weekly demand =150

Standard deviation=200

This is a case of variable demand and constant lead time

a. Reorder point =Demand during lead time +Safety stock

=Average weekly demand*lead time+z*sqrt(lead time)*standard deviation of weekly demand

=150*3+NORMSINV(0.99)*sqrt(3)*200

=450+1.7507*sqrt(3)*200

=450+606.46=1,056.46

=1,056 (nearest whole number).

On average, the number of boards they have on order = 1,056 boards.

b. For a normal distribution,

z=x-mean/std deviation

z-value for a 96% confidence level = 2.05

2.05=x-150/200

x = 150+2.05*200=560

On average, the number of boards they have =560 boards.

c.Total holding cost per week=Average inventory *holding cost per week=560/2 *0.5=280*0.5 =$140

d.Holding cost incurred per board =Total holding cost /Number of boards =140/560 = $ 0.25.

5 0

3 years ago

Mention any five essential elements required for insurance contract​

Mention any five essential elements required for insurance contract