Answer: The answer is given below
Explanation:
It should be noted that the split limits approach is used by several auto insurance policies and this simply combines per person and occurrence approach.
For every accident, three dollars amount are being applied. The first limit is simply a per person limit which is the maximum amount that one injured person will get. The second limit is simply the per occurrence limit which is the maximum amount that all the injured persons will get while the third limit applies during the claim of property damage as it is the maximum amount that will be paid for damages by an insurer to property that results from the accident.
since the split is 50/100/20, it implies that $50,000 medical coverage for every injured person, $100,000 injury coverage for all accident victims and then $20,000 for property damage.
1. Bill's insurance company will pay $20000.
2. Amount Bill will pay:
= $17,603 + $3,136 + $9,659 - $20,000
= $30,398 - $20,000
= $10,398
Answer
<u>Market surplus will lower the prices for goods and increase the consumer quantity demand for the products.</u>
Explanation
A market surplus is when there is excess supply. The quantity supply in this case is greater than the quantity demanded. Producers will be faced with a hard time to sell all their goods. This will make them lower their prices to make their products more appealing to consumers. Firms will also have to lower market prices in order to stay competitive. In response to the reduced prices, consumers will increase the quantity demanded thus moving the market to an equilibrium price and quantity. This is a case where excess supply has exerted a downward pressure on the prices of the products.
Answer:
She violated the duty of loyalty
Explanation:
One of the fiduciary duties of a director is to always act in the best interest of the company .
Similar to this is the duty of loyalty that prevents the director from acting against the interest of the company and also guide the director against activities that could bring conflict of interest whereby he is involved in reaping personal benefits from the position she occupies .
This describes Wendy's action of personal dealing based on her position as the president of Kite sale
Answer:
Vince's Vehicle Repairs
The Cost of Sales is:
= $72,000.
Explanation:
a) Data and Calculations:
Turnover = $180,000
Gross profit margin = 60%
Net profit margin = 22%
Gross profit margin = Gross profit/Turnover * 100
60% = Gross Profit/$180,000 * 100
Therefore, the Gross Profit = $180,000 * 60%
Gross Profit = $108,000
Cost of sales = Turnover - Gross profit (100% - 60%)
Cost of sales = $180,000 - $108,000
= $72,000
Alternatively, Cost of Sales:
= $180,000 * (100% - 60%)
= $72,000
