Considering the benefits and importance of insurance, the ten roles of insurance in a business include "<u>security and safety</u>."
<h3>The other roles of insurance in a business are:</h3>
- Mitigation of risk
- Provision of insurance service by the insurance company
- Protection from unexpected losses
- Ease of getting loans
- Provision of social cooperation
- It enhances saving habits
- It aids some contracts that require it.
- There are tax benefits.
- Promotion of trades and industry, etc.
Hence, in this case, it is concluded that insurance plays various roles in business.
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Answer:
A. DR Petty Cash 200; CR Cash 200
Explanation:
We are asked for the entry on June 1st to stablish the petty cash fund.
The data on June 30th is irrelevant for this question.
We will only work with the information of june 1st
The ptty cash, will be an asset account. To crease an asset account we will debit it.
On credit side, we need to show how is this asset generated. In this case, with another asset, cash. Cash will be credited to show that 200 cash from the main account has been moved into the petty fund
Answer:
D. Franchisee
Explanation:
A franchisee can be defined as an individual who is a small business owner who operates a franchise. A franchisee is given license by the franchisor to run a business under the franchisor's trade mark, trade name and method of operations. A franchise is a business in which the owners sell the rights to their business trade mark, trade name, logo and method of operations to a third party outlet or individuals owned separately by who we refer to as the franchisee. In this case, Andrea wants to become a franchisee by opening the same type of popular coffee chain in her town that is found in a nearby town.
Answer:
A residential property is greatly diminished in value because of the constant noise of jets taking off from a recently expanded municipal airport. In order to be compensated for this loss, the owner could:
B.bring a suit alleging inverse condemnation
Explanation:
A law suit is a claim or legal problem taken to a court of law by an individual or organization rather than the authorities for a legal decision to be made. In the case above, the residential property diminished in value after constant noise of jets taking off from a recently expanded municipal airport. The loss in value is as a result of the recently expanded municipal airport and the property owner wants to be compensated for this loss.
In law, there are different terminologies and phrases that have specific meaning, some of them are as follows;
1. Inverse condemnation
Inverse condemnation is a case where a government entity takes private property or influences the value of that private property in one way or another then fails to compensate. In our case, this law suit can apply since the municipal airport is under the jurisdiction of the government and there action of expanding the airport caused a decline in value of neighboring residential property thus they should compensate the owner for this loss. The owner can bring a suit alleging inverse compensation.
