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PIT_PIT [208]
2 years ago
9

What is a shared risk pool in an annuity?​

Business
1 answer:
ycow [4]2 years ago
7 0

Risk pooling allows an insurance carrier to provide an income stream via an immediate annuity, even with its costs and expenses, far more cheaply than a person could on his or her own. Risk pooling is the practice of sharing all risks among a group of insurance companies.

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Mike has an insurance policy that pays 90% of the replacement cost of personal property damaged in a fire. A fire destroyed a st
podryga [215]

Answer:

Explanation:

Mike insurance company will pay = 0.9 of 400 = $ 360

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3 years ago
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Bridges, shopping centers, and other jobs that take months or years to complete and involve the work of many are called ______.
s344n2d4d5 [400]

Bridges, shopping centers, and other jobs that take months or years to complete and involve the work of many are called Project

What is project?

A project is any endeavour that is carefully planned to accomplish a specific goal, whether it is done alone or with others. It may also involve research or design.

An alternate perspective describes a project as a series of connected tasks that must be completed within specific time, budget, and other constraints.

To learn more about Project

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2 years ago
What are three things to look at closely on the contract?
kicyunya [14]
The date, 
signature 
rules.
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3 years ago
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The following transactions relate to the General Fund of the City of Buffalo Falls for the year ended December 31, 2020: Beginni
melamori03 [73]

Answer:

City of Buffalo Falls

a. Journal Entries:

Beginning balances:

Jan.1, 2020 :

Description                 Debit                Credit

Cash                        $93,000

Taxes Receivable  $189,500

Accounts Payable                              $52,250

Fund Balance                                   $230,250

To record opening balances of the General Fund.

Transactions during the year:

Description                 Debit                Credit

Taxes Receivable      $1,230,000

Estimated Revenue                         $1,230,000

To record the estimated revenue for the year.

General Government  $1,227,400

Accounts Payable                            $1,227,400

To record the estimated appropriations for the year.

Property taxes receivable $915,000

Other revenue receivable $315,000

Estimated revenue                              $1,230,000

Cash Account                  $1,182,500

Property taxes receivable                     $885,000

Other revenue receivable                    $297,500

To record the cash receipts.

Contracts                                  $95,250

Accounts Payable                                      $95,250

To record contracts for services.

Debit General Government  $963,500

Credit Accounts Payable                        $963,500

To record the other expenditures.

Debit Accounts Payable      $1,092,500

Credit Cash Account                              $1,092,500

To record payment on account.

b. Statement of Revenues, Expenditures, and Changes in Fund Balance for the General Fund:

Estimated Revenue   $1,230,000

less Expenditure:

Contracts                          95,250

Other expenditures       963,500

Change in fund             $171,250

Fund balance b/f           230,250

Fund balance c/f          $401,500

c. Balance Sheet for the General Fund:

Cash                              $183,000

Taxes Receivable           237,000

Total assets                 $420,000

Accounts Payable            $18,750

Fund balance                  401,500

Total liabilities + Fund $420,250

Explanation:

a) Cash Account:

Beginning balance            $93,000

Property taxes                   885,000

Other revenue                  297,500

less Accounts payable   1,092,500

Ending balance               $183,000

b) Taxes Receivable

Beginning balance           $189,500

Estimated Revenue        1,230,000

less Receipts:

Property taxes                  885,000

Other revenue                 297,500

Ending balance             $237,000

c) Accounts Payable

Beginning balance        $52,500

Other expenditure        963,500

Contracts                        95,250

Less payments           1,092,500

Ending balance              $18,750

4 0
3 years ago
What are business letters ​
vichka [17]
Professional letters for business
8 0
3 years ago
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