On November 10, Belair would make the following entry: Accounts receivable 7,840 Cash discounts 160 Sales 8,000.
Account receivable acc. Dr. 7840
cash discount acc. Dr. 1640
To sales acc. 8000
Accounts receivable are enforceable claims for payment that a business holds in relation to products supplied or services provided that customers have requested but have not yet paid for. In most cases, they take the form of invoices that a business issues and sends to the client for payment within a set time frame.
Accounts receivable are shown as an asset on the balance sheet. Several accounting processes are used to deal with charging a customer for the goods and services they have ordered. These can be contrasted with notes receivable, which are obligations created by official legal papers known as promissory notes.
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sangmoon co. sells equipment for $1,000 cash. the equipment cost sangmoon $6,500 and has accumulated depreciation of $2,000 at the time of sale. sangmoon will record the sale with a credit to which account and for how much?
The amount that Sangmoon will record the sale of the equipment at would be $1, 000 and the account to be credit is the Equipment account for $4, 500
How to record sale of equipment ?When an equipment is sold, the amount would be debited to the cash account to show that a certain amount of money has been received for a sale.
The account to be credited would be the equipment's account iself to show that it is reducing in value because assets are credited when they reduce in value. The amount credited is the net book value which is :
= Cost of equipment - Accumulated depreciation
= 6, 500 - 2, 000
= $ 4, 500
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Refer to Figure 6-2. The price ceiling a. causes a shortage of 40 units. b. is not binding, because it is set above the equilibrium price. c. causes a shortage of 45 units. d. causes a shortage of 85 units. Refer to Figure 6-2. The price ceiling causes quantity a. supplied to exceed quantity demanded by 45 units. b. supplied to exceed quantity demanded by 85 units. c. demanded to exceed quantity supplied by 45 units. d. demanded to exceed quantity supplied by 85 units.
1. The price ceiling D. causes a shortage of 85 units.
2. The price ceiling causes D. Quantity demanded exceeds quantity supplied by 85 units
What is price ceiling?The "ceiling" prevents prices from rising above a certain level. A price floor prevents a price from falling below a certain level, known as the "floor." Price ceilings can be understood using the demand and supply framework. Demand for goods and services outnumbers supply in many markets.
A price ceiling is a price control, or limit, imposed by the government or a group on how much a product, commodity, or service costs. Price ceilings are ostensibly used by governments to protect consumers from conditions that could make commodities prohibitively expensive.
The price ceiling causes a shortage as supply is less than demand at the given price.
Demand = 165 and Supply = 80
Shortage = 165 - 80
= 85 units
It should be noted that Quantity demanded exceeds quantity supplied by 85 units
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21. Which of the following goods has elastic demand?
a. Tobacco
b. Table salt
c. diet coke
d. toothpaste
Answer:
tobacco
Explanation:
How can you use feedback from your clients?
a. To practice reflective listening
b. To improve your effective communication
c. To improve your trust and rapport with your clients
d. To improve your skills and craft
Which of the following is a health insuring corporation (HIC) provider of specialty care?
A. A neurologist
B. The admissions nurse at a designated HIC provider hospital
C. An HIC medical director
D. A preferred provider organization (PPO) director
A neurologist is a health insuring corporation (HIC) provider of specialty care. Correct option is A.
Another element of a valid insurance contract is insurable interest. Insurable interest is a element of legal purpose. This means that the person acquiring the contract( the aspirant) must be subject to loss upon the death, illness, or disability of the person being ensured. To have “ an insurable interest ” in the life of another person, an existent must have a reasonable anticipation of serving from the other person’s uninterrupted life. A policy attained by a person not having an insurable interest in the ensured isn't valid and can not be executed. therefore, insurable interest must live between the aspirant and the existent being ensured. When the aspirant is the same as the person to be ensured, there's no question that insurable interest exists. individualities are presumed to have insurable interest in themselves.
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Since the balance of payments is the summary of a country's financial transactions with another country, a discussion of a nation's balance of payments will need to include a discussion of:_________
Since the balance of payments is the summary of a country's financial transactions with another country, a discussion of a nation's balance of payments will need to include a discussion of the country's current account and capital account.
What is a balance of payments?It refers to the statement of all transactions made between entities in one country and other countries over a defined period. In essence, the balance of payments summarizes all transactions that a country's individuals, companies, government bodies complete with individuals, companies, government bodies outside the country etc
As the balance of payments includes both the current account and capital account, then, the discussion of a nation's balance of payments will need to include a discussion of the country's current account and capital account.
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Reg has just purchased a new car. The car had a list price of $22,499, and he was responsible for 7. 96% sales tax, a $2,138 vehicle registration fee, and a $262 documentation fee. Reg’s financing has an interest rate of 10. 27%, compounded monthly, and a duration of three years. If Reg makes a monthly payment of $773. 89, which of the following was his down payment? Round all dollar values to the nearest cent. A. $2,000 b. $2,200 c. $2,500 d. $2,800 Please select the best answer from the choices provided A B C D.
The down payment that would be paid by reg is $2,800.
What is a down payment?A down payment is the first partial payment for the purchase of price expensive items or services, such as a car or a house. It is usually paid off in cash or equal at the time of finalizing the transaction. A loan of some kind is then asked to finance the remainder of the payment.
Computation of a down Payment:
According to the question,
The total amount of car would be:
\(\text{List Price + Sales Tax + Registration Fee + Documentation Fee}\\\\\$22,499+\$1,791+\$2,138+\$262 = \$26,690.\)
r= 10.27%,
\(r=\dfrac{10.27}{12\times100}\\\\\\r= 0.00855833\) ,
t= \(12\times3\text{Years}=36 \text{Months}.\)
Monthly Payment = $773.89.
Let X be the amount of payment that is given in the starting.
\(\text{Monthly Payment} = \dfrac{\text{(List Price - x) r }}{1-(1+r)}}\\\\\\\$773.89 = \dfrac{(22,49-\text{x )0.0085533}}{1-(1+0.0085533)}\\\\\text{x}=$23889.84\)
The amount of down payment would be:
\(\text{Down Payment}=\text{Total Amount - Down Payment}\\\\\\\text{Down Payment}=\$26,690-\$23889.84\\\\\text{Down Payment}=\$2,801 \text{App.}\)
Hence, Option D is correct.
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Self monitoring is a good approach for ensuring you uphold a client's dignity. true or false?
True, Self-monitoring is a good approach for ensuring you uphold a client's dignity.
Self-monitoring refers to the practice of being aware of and observing one's own behavior, thoughts, and actions. When working with clients, especially in a caregiving or service-oriented role, self-monitoring is crucial in upholding their dignity and providing respectful and person-centered care.
By practicing self-monitoring, individuals can become more attuned to their own biases, assumptions, and behaviors that may inadvertently undermine a client's dignity. It allows individuals to reflect on their interactions, communication style, and decision-making processes, ensuring that they align with principles of respect, autonomy, and dignity.
Self-monitoring helps individuals maintain awareness of their own attitudes and beliefs, which can significantly impact their interactions with clients. It enables professionals to recognize and challenge any discriminatory or disrespectful tendencies they may have and make necessary adjustments to ensure the client's dignity is upheld.
Furthermore, self-monitoring encourages continuous learning and growth in understanding diverse perspectives and needs. It promotes empathy, active listening, and cultural sensitivity, all of which are essential for providing client-centered care and preserving their dignity.
In summary, self-monitoring is a valuable approach for professionals working with clients as it promotes self-awareness, helps identify and rectify potential breaches of dignity, and fosters a respectful and inclusive environment that honors the client's autonomy and individuality.
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Inflation is expected to increase steadily over the next 10 years, there is a positive maturity risk premium on both Treasury and corporate bonds, and the real risk-free rate of interest is expected to remain constant. Which of the following statements is CORRECT? A. The yield on 7-year corporate bonds must exceed the yield on 10-year Treasury bonds. B. The Treasury yield curve under the stated conditions would be humped rather than have a consistent positive or negative slope. C. The yield on 10-year Treasury securities must exceed the yield on 7-year Treasury securities D. The stated conditions cannot all be true they are internally inconsistent. E. The yield on any corporate bond must exceed the yields on all Treasury ; bonds.
Answer:
C. The yield on 10-year Treasury securities must exceed the yield on 7-year Treasury securities
Explanation:
Due to the fact that inflation would be rising steadily, the yield curve would be upward sloping. The yield curve would be humped if inflation is expected to increase the medium term and then decrease in the long term.
Due to increasing inflation, investors would want a higher rate of return in the long run compared to the short run. This would ensure that their purchasing power remains the same. Thus, the yield on 10-year Treasury securities must exceed the yield on 7-year Treasury securities
corporate bonds are more risky that treasury bonds. so, for the same maturity, investors would demand a higher return on corporate bonds than on treasury bonds
Suppose Hondamaha, a motorcycle manufacturing firm headquartered in Japan, builds a production plant in Arizona. This is an example of foreign investment in the United States. Which of the following policies are consistent with the goal of increasing productivity and growth in developing countries? Check all that apply. - Providing tax breaks and patents for firms that pursue research and development in health and sciences - Increasing taxes on income from savings- Protecting property rights and enforcing contracts - Pursuing inward-oriented policies In less developed countries, what does the term brain drain refer to? - Rapid population growth that increases the burden on the system - The emigration of highly skilled workers to rich countries - Lower productivity due to a malnourished workforce - Rapid population growth that lowers
The following policies are consistent with the goal of increasing productivity and growth in developing countries:
Providing tax breaks and patents for firms that pursue research and development in health and sciencesProtecting property rights and enforcing contractsThe correct options are A and C.
What are productivity and its benefits?Productivity is a metric of economic or business performance that indicates how effectively individuals, businesses, industries, and entire economies convert inputs such as labor and capital into outputs such as goods or services.
Pursuing inward-oriented policies in less developed countries may not be consistent with the goal of increasing productivity and growth, as it can limit access to foreign markets and foreign investment, which can be important sources of capital, technology, and expertise. Increasing taxes on income from savings can also discourage investment and savings, which can reduce economic growth.
Thus, the ideal selection is options A and C.
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Define logistics management. Click the answer you think is right. It is the management of the movement of materials and information within, into, and out of a firm. It is the management of processes used to identify, acquire, and administer inputs to a firm. It is the management of the customer interface, including all aspects of order processing and fulfillment. It is the management of functional groups such as distribution, sales, order fulfillment, and customer service.
Answer:
The correct answer is the first option: It is the management of the movement of materials and information within, into and out of the firm.
Explanation:
To begin with, the term of "Logistics" refers to the detailed organization and implementation of a complex operation. When it comes to the business field, the companies that have logistics and they need to manage it, tend to organize as much as possible what they use as materials and information of the company that needs to be moved from one place to another and they use the management of the logistics so that process can be improve and the company can count with its resources whenever they need to.
what are the roles of financial manager ?
Answer:
hope it helps
Explanation:
A Financial Manager, or Finance Manager, builds financial strategies and reports to help companies improve their financial health and meet their long-term goals. Their main duties include preparing an organizations’ activity reports, creating financial forecasts and brainstorming ways to maintain or reduce company costs
Compare these costs.
48 paper plates for $2.99
75 paper plates for $3.99
Answer:
the $3.99 one cost less per unit
Explanation:
the $2.99 = $0.06 per unit
the $3.99 = $0.05 per unit
Under which of the following conditions would a principal or employer be liable for the tort of an agent or employee
A. the tort was authorized by the principal
B. the tort occurred within the scope of employment
C. the tort was not authorized by the principal
D. both a and b are correct
E. none
A principal or employer would be liable for the tort of an agent or employee if Option B. the tort occurred within the scope of employment.
To establish liability for the tort of an agent or employee, two conditions must be satisfied: authorization by the principal and occurrence within the scope of employment. If the principal authorizes or directs the agent or employee to commit the tortious act, the principal can be held liable for the resulting harm.
The scope of employment refers to actions undertaken by the agent or employee in furtherance of their job responsibilities or within the course of their employment. If the tortious act is committed while the agent or employee is carrying out their job duties or acting within the scope of their employment, the principal or employer can be held responsible for their actions.
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Economists use the term imperfect competition to describe.
The term imperfect competition is used by economists to describe a market situation in which there are fewer than ideal conditions for perfect competition.
In a perfectly competitive market, there are many buyers and sellers who have access to complete information about the market, and there are no barriers to entry or exit. However, in an imperfectly competitive market, there are various barriers that prevent perfect competition from occurring.
Imperfect competition can take many forms, such as monopolies, oligopolies, or monopolistic competition. In a monopoly, a single firm dominates the market and has control over the price of the goods or services it offers.
In an oligopoly, a small number of firms dominate the market, which can lead to collusion and other anti-competitive practices. In monopolistic competition, many firms compete by offering slightly differentiated products or services, which can lead to price competition and non-price competition.
Imperfect competition can have significant effects on market outcomes, such as pricing, innovation, and efficiency. For example, in a monopolistic market, prices may be higher than they would be in a perfectly competitive market, and innovation may be slower because there is less pressure to improve products or services.
Understanding imperfect competition is important for policymakers and regulators, as they seek to promote competition and protect consumers in different market situations.
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problem 04-20 (algo) your firm has the opportunity to buy a perpetual motion machine to use in your business. the machine costs $1,000,000 and will increase your profits by $95,000 per year. what is the internal rate of return? instructions: enter your response as a percent rounded to two decimal places. the internal rate of return is percent.
The internal rate of return is 9.50%.
The internal rate of return (IRR) is a financial metric used to evaluate the profitability of an investment. In this case, the IRR is calculated for the perpetual motion machine purchase.
The calculation is based on finding the discount rate that makes the present value of the machine's cost equal to the present value of its future profits. The machine costs $1,000,000 and generates additional profits of $95,000 per year.
By dividing the annual profit ($95,000) by the initial cost ($1,000,000), we find that the IRR is 0.095 or 9.50% as a percentage. This means that the investment will yield an internal rate of return of 9.50% per year.
Therefore, the IRR of 9.50% indicates that the investment in the perpetual motion machine is expected to provide a return higher than the cost of capital. Therefore, it suggests that acquiring the machine would be a financially viable decision for the firm, as the expected return exceeds the required return.
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Step 3: Now, let’s identify the factors that affect the Business Environment
As big as our economy is, it is still sensitive to changing dynamics that affect its performance and vitality. Consider these factors and how they impact business. CHOOSE JUST THREE FACTORS TO GIVE AN EXAMPLE FOR BELOW.
Economic: Jobs, interest rates & inflation are some of the forces that affect supply and demand, which determines how prices and quantities of goods and services perform in our economy.
Political/Legal: The stability of a government, and the types of laws it passes affects businesses profitability and investment
Demographic: Businesses have to consider their market’s age, gender, race, ethnicity and location.
Social: Attitudes, values, ethics, and lifestyles—influence what, how, where, and when people purchase products or services. They are difficult to predict, define, and measure because they can be very subjective.
Competition: Competition causes business to develop new products, services and technologies, and offer consumers greater selection and better products. The greater the selection of a good is in the market, prices are typically lower for the products,Global: Immigration/Refugees, political factors, tariffs, climate events and competition.
Technology: The use of science and engineering skills can be used to solve production and organizational problems. New equipment and software that improve productivity and reduce costs can be among a company’s most valuable assets.
Step 4: Choose THREE factors from the above list, and give an example of how you see this work in the economy:
(Name Factor here): (Example here of where you have seen this factor demonstrated).
(Name Factor here): (Example here of where you have seen this factor demonstrated).
(Name of factor here): (Example here of where you have seen this factor demonstrated).
(Example: Political/Legal: The Federal Reserve System)
Do you need more help understanding this topic? Read the linked article below.
Understanding the Business Environment (Link to Article)https://opentextbc.ca/businessopenstax/chapter/understanding-the-business-environment/
Ale jak się okazało w Polsce dniu narty nie skierowane to dniu tym świecie i jest ogóle nie ma problemu z tym że nie ma przecieku co w wszystko jutrzejszym terminie
The pre-approved amount of money that a bank is willing to lend a credit card holder is the credit __________. A. Balance B. Rating C. History D. Limit
Answer:
Limit
Explanation:
Answer:
D. Limit
Explanation:
Which of the following is not an example of professional behavior
?
Costs of partially completed units are accounted for in ______.
The costs of partially completed units are accounted for in work in process.
What is work in process?In accounting, a work in process refers to a partially completed goods that are typically turned from raw materials to finished products within a short period of time
In conclusion, the costs of partially completed units are accounted for in work in process.
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What benefits might citizens of a Centrally Planned economy derive from a move toward a marked based system?
Citizens in a Centrally Planned Economy benefit from a shift toward a marked-based system. Higher economic growth, Increased access to products and services, More freedom and choice.
1. Higher economic growth: Transitioning to a market-based economy promotes competitiveness and efficiency, which can lead to increased economic growth.
2. Increased access to products and services: As the economy shifts toward a market-based system, residents will have more access to a broader range of goods and services, including imported commodities.
3. More freedom and choice: In a market-based economy, individuals have greater flexibility to pick whatever products and services they wish to buy, as well as more freedom to engage in a variety of economic activities.
4. Improved entrepreneurial incentives: A market-based economy may give incentives for entrepreneurs to innovate and produce new goods and services, resulting in increased economic growth and development.
5. More effective resource allocation: A market-based system supports efficient resource allocation since prices represent the real worth of commodities and services in the economy. This has the potential to boost economic efficiency.
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In Virginia, government agencies that address market failures include the Attorney General,
the Department of Labor, and the Department of Environmental Quality. true or false ?
Answer:
The answer is False.
Explanation:
The office of the Attorney General in Virginia primarily responsible for attending to matters of the state such as:
Representing the governor and the state in legal matters; Consulting for members of the Virginia General Assembly (VGA) and local government officials Acting as the defense counsel in legal suits filed against the stateDefending the constitution of the stateThe department of Labour on the other hand is tasked with the following mission to position Virginia as a conducive place to live work or run a business. It tries to achieve this by adopting and promoting international best practices.
Department of Environment of course is focused on ensuring that companies and individuals uphold the law in relation to the environment.
Managing the stability of inflation, employment and interest rates by the use of monetary policies.
Cheers
The following selected transactions occurred during the year: Jan. 15. Paid cash dividends of $0. 15 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $54,000. Mar. 15. Sold all of the treasury stock for $17 per share. Apr. 13. Issued 75,000 shares of common stock for $1,200,000. June 14. Declared a 4% stock dividend on common stock, to be capitalized at the market price of the stock, which is $18 per share. July 16. Issued shares of stock for the stock dividend declared on June 14. Oct. 30. Purchased 25,000 shares of treasury stock for $19 per share. Dec. 30. Declared a $0. 18-per-share dividend on common stock. 31. Closed the two dividends accounts to Retained Earnings. Required:
The main transactions mentioned in the question are as follows:
1. January 15: Cash dividends of $0.15 per share on the common stock were paid, totaling $54,000. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year.
2. March 15: All treasury stock was sold for $17 per share.
3. April 13: 75,000 shares of common stock were issued for $1,200,000.
4. June 14: A 4% stock dividend on common stock was declared, to be capitalized at the market price of $18 per share.
5. July 16: Shares of stock were issued for the stock dividend declared on June 14.6. October 30: 25,000 shares of treasury stock were purchased for $19 per share.
7. December 30: A $0.18-per-share dividend on common stock was declared.
At the end of the year, on December 31, the two dividends accounts will be closed to Retained Earnings.
The transactions mentioned above reflect various events related to the issuance, purchase, and payment of dividends for the common stock. These events impact the company's equity accounts and financial statements.
The payment of cash dividends on January 15 reduces the company's retained earnings and decreases the cash balance. The dividend payment had been properly recorded when declared on December 1 of the preceding fiscal year.
The sale of treasury stock on March 15 results in a gain or loss depending on the price at which the stock was acquired and the price at which it was sold. The proceeds from the sale will increase the cash balance.
The issuance of 75,000 shares of common stock on April 13 brings in additional funds of $1,200,000 and increases the company's common stock and additional paid-in capital accounts.
The declaration of a stock dividend on June 14 does not involve a cash outflow but instead results in an increase in the common stock and additional paid-in capital accounts, while reducing retained earnings. The issuance of shares for the stock dividend on July 16 further increases the common stock and additional paid-in capital accounts.
The purchase of treasury stock on October 30 involves a cash outflow and results in a reduction of the cash balance. The treasury stock is recorded as a contra-equity account.
Finally, the declaration of a cash dividend on December 30 reduces retained earnings and establishes a liability for the dividend to be paid in the future. On December 31, both the cash and stock dividends accounts are closed, and the amounts are transferred to Retained Earnings.
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In what respect is the economic decision to move across international borders an investment decision?
The economic decision to move across international borders can be considered an investment decision because it involves seeking financial gains and allocating resources in the expectation of future benefits.
The economic decision to move across international borders can be considered an investment decision in several respects. Firstly, when individuals or businesses decide to relocate to another country, they often do so with the intention of improving their financial prospects. This can involve seeking new market opportunities, accessing cheaper labor or resources, or taking advantage of favorable tax or regulatory environments. In this sense, the decision to move across borders can be seen as an investment in the potential for higher profits or returns on investment.
Secondly, moving across international borders often requires significant upfront costs and resources. These can include expenses related to obtaining visas or work permits, relocating personnel or equipment, establishing new infrastructure or facilities, and navigating legal or cultural differences. Just like traditional investment decisions, such as starting a business or purchasing assets, the decision to move across borders involves allocating resources in the expectation of future benefits.
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#1 You are driving down the highway when one of your tires suddenly blows out. You should
Pump your brakes rapidly, and steer your vehicle to control any skids.
Avoid using your brakes. Slow down gradually and concentrate on steering.
Press hard on your brake pedal and stop as quickly as you can.
increases in assets and owner’s equity as a result of selling services or products to customers is called revenue
Yes, increase in assets and owner's equity as a result of selling services or products to customer is called revenue.
Revenue is the money earned from normal business operations and is calculated by multiplying the average sales price by the number of units sold. Net income is calculated by subtracting costs from the top line (or gross income). On the income statement, revenue is also known as sales.
Revenue (from the sale of goods or services) less operating expenses equals operating income.Non-operating income is income derived from secondary sources that is infrequent or nonrecurring (e.g., lawsuit proceeds).Non-commercial entities such as governments, nonprofits, and individuals also report revenue, though the calculations and sources vary.Revenue is simply the proceeds of sales, whereas income or profit includes the expenses incurred in order to generate revenue and reports net (not gross) earnings.Learn more about revenue here:
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QUESTION 5 of 20: You plan to put anti-theft devices on each garment in your store. You have 575 garments and it takes an employee 30
seconds to tag a garment. How many hours will it take 3 employees to tag all garments?
a) 9
b) 1.6
c) 4.0
d) 11
( the subject is marketing but they didn’t have that option so i had to put a different one)
Answer:
1.6
Explanation:
I just did my marketing quiz, it comes out at about 1.59 so 1.6
You plan to put anti-theft devices on each garment in your store. It will take 1.6 hours to do 3 employees to tag all garments.
What is an anti-theft device?The anti-theft device is a device to protect property and cars and other things.
These devices are installed in shops and vehicles to save them from robbery.
Anti-theft system alarms, when someone enters the shop or touches the vehicle.
Thus, the correct option is b) 1.6
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Define ''limited in stock''
Answer:
Explanation:
it means that the product wont be around aymore since its limited to retailer?
why planning is important before starting a business?
Answer:
So you can get ready to know 'how to make your business good'
If you don't plan, then you'll forget to setup something is may be important
Explanation:
Hope this helps :)
Why do some auto insurance customers want medical coverage for their
policies?
A. To help find the best hospital to care for people they injured in a
car accident
B. To keep from having to make a co-pay in case of a minor injury
after an accident
C. To avoid having to pay for hospital bills resulting from an accident
they cause
D. To prevent uninsured motorists from suing them for injuries they
cause
9514 1404 393
Answer:
C. To avoid having to pay for hospital bills resulting from an accident they cause
Explanation:
The purpose of any sort of insurance is to limit or eliminate the policy-holder's liability. Medical insurance in an auto policy pays for medical bills the policy-holder might otherwise be liable for as a consequence of an auto accident.