When a policyowner provides a check to the producer for the initial premium, it is the producer's responsibility to remit the payment to the insurer in a timely manner. Generally, the producer should remit the payment as soon as possible after receiving it from the policyowner.
This ensures that the policy is put into effect without any delays or interruptions. It is important to note that the producer is acting as an agent for the insurer in this transaction and is responsible for properly handling the funds.
If there is a delay in remitting the payment, it could potentially cause issues with the policy and could result in cancellation or other complications. Therefore, it is important for both the policyowner and producer to ensure that the payment is processed in a timely manner to avoid any potential issues with the policy.
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which outcomes are a result of a high-performance work system? (select all that apply) multiple select question.
A high performance work environment results in increased productivity outcomes.
What does "performance" mean?Overall industry performance refers to the capacity of a corporation to carry out a plan to achieve organisational objectives. It is considered to be an important tool for companies to evaluate how successfully management performs its obligations. Finances or the amount of money each employee makes are two. Using these performance measurements will enable you to make more accurate judgments in regard to the goals.
Why is performance so important?Creating an efficient team can help you finish projects on time, bring in money, and improve the brand through positive client interactions. When employees are not functioning adequately, clients get the impression that a company doesn't care about their needs and will seek help elsewhere. Effective workers finish jobs the first time correctly.
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specialization the division of labor enhances productivity and efficiency by
Answer:
allowing workers to take advantage of existing differences in their abilities and skills.
Explanation:
What is the main distinguishing factor between accountants and bookkeepers?
The main distinguishing factor between accountants and bookkeepers is the level of education, training, and expertise they have in financial matters.
Bookkeepers are responsible for recording and maintaining the financial transactions of a business, such as recording transactions in a general ledger, reconciling bank accounts, and producing financial statements. They usually have some formal training or certification in bookkeeping, but typically do not hold a degree in accounting or finance. On the other hand, accountants are responsible for interpreting and analyzing financial information, preparing financial statements, providing tax advice, and advising businesses on financial strategy. They typically hold a bachelor's or master's degree in accounting or finance, and have completed additional education and training to become a Certified Public Accountant (CPA) or Chartered Accountant (CA) in some countries. In summary, while bookkeepers are primarily responsible for maintaining accurate financial records, accountants are responsible for analyzing and interpreting those records, providing financial advice, and helping businesses make strategic financial decisions.
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The main difference between accountants and bookkeepers is their level of education and the complexity of tasks they manage, with accountants dealing with more complex tasks and requiring a higher level of education.
Explanation:The main distinguishing factor between accountants and bookkeepers lies primarily in the complexity of tasks they manage and their level of education and qualification. Bookkeepers typically manage daily financial transactions, including income and expenses, and their role generally doesn't require specialized training or a degree. On the other hand, accountants often handle more complex tasks such as tax filings, financial analysis, and auditing, and require at least a bachelor's degree in accounting or a related field. Some accountants also hold advanced qualifications such as Certified Public Accountant (CPA).
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What do most business people think is the primary purpose of business?
A. To fix the problems of society
B. To invest all profits back into the business
C. To protect private property
D. To generate wealth
The most business people think generating wealth is the primary purpose of business. Therefore, option D is the correct option.
What is business?Businesses are economic activities. The activity of the business is performed by the people either in order to make money or to make simply a living. The activity of the business is performed by manufacturing goods, producing services, buying, and selling.
The major purpose of business is to earn profits. However, some businesses are in social service as well, they produce goods and services for the betterment of the society and the environment. Also, corporate social responsibility, which is paid by the business to the government helps in many ways.
The majority of businesspeople believe that making wealth is the main goal of their industry. As a result, choice D is the best one.
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The underlying reason why trade benefits both sides of a trading arrangement is rooted in the concept of a) opportunity cost b) specialization c) absolute advantage d) maximum production
The underlying reason why trade benefits both sides of a trading arrangement is rooted in the concept of opportunity cost. Thus, option A is the correct option.
The value of the best alternative foregone when, due to limited resources, a decision must be made between numerous mutually incompatible alternatives is known as the opportunity cost in microeconomic theory. If the best option is chosen, the "cost" is the loss of the benefit that would have been gained from selecting the next-best option.
It includes all decision-related costs, both explicit and implicit. As a result, opportunity costs are not just limited to monetary or financial expenses; they also include the actual cost of renounced productivity, lost time, pleasure, or any other advantage that gives value.
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Joe's Jalopies sold one of its warehouses for $300,000 cash plus a tractor with a fair market value of $25,000. The building had a mortgage against it for $50,000 that was assumed by the buyer and an adjusted basis of $130,000. Joe's had to pay $20,000 in sales commissions to the Realtor who coordinated the sale. What is the amount realized by Joe's Jalopies
Answer:
$355,000
Explanation:
Joe's jalopies sold one of its warehouse for $300,000 and a tractor that has a fair market value of $25,000
The warehouse had a mortgage of $50,000 against it.
The adjusted basis was $130,000
Joe had to make a payment of $20,000 in sales commission to the realtor
Therefore, the amount realized by Joe's jalopies can be calculated as follows
=$300,000+$25,000+$50,000-$20,000
= $375,000-$20,000
= $355,000
Hence the amount that was realized by Joe's jalopies is $355,000
explain how the looting of shops and malls will affect businesses in terms of the relationship between social responsibility and triple bottom line
The main purpose of a business is to make profit. A businessmen will feel secure to operate his business activities in a country where he feels himself and his business activities secure.
When the shops and malls are looted in a country, the businessmen will have feeling of insecurity and so they will shut down their business activities because whatever profits they make from running business, it is looted by robbers.
There is always some social responsibility of the citizens that even in case of emergency situations they should not be unethical activities and indulge in criminal activities.
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What are the three questions you need to ask yourself before you start investing
Explanation:
Is the seller licensed?
Is the investment registered?
How do the risks compare with the potential rewards?
Do you understand the investment?
2. A small business makes cakes for parties and weddings. Which two of the following are most likely to be resources it uses directly in production? Select two of the following.
A. Labour
B. Taxes
C. Television adverts
D. Flour
E. Airfreight
D and A.
The reasoning is because if they are making a cake then they may use flour, and they may have to clean up their mess afterwards.
An instrument used to enlarge or reduce a map is known as
Answer:
pantograph
Explanation:
you can use a pantograph to do this.
occurs when companies employ a multinational pricing policy that calls for setting different prices in different country markets. a) ethnocentric b) polycentric c) regiocentric d) geocentric e) extension
A method in global marketing where a company permits a subsidiary or affiliate to determine the best price in its own region as long as it is profitable; also known as the Polycentric Approach.
What distinguishes polycentricity from ethnocentricity?
While the ethnocentric method sends employees from the home area or country to a foreign country or to another site where the headquarters are present, the polycentric approach concentrates on keeping personnel from a domestic region or country.
What do geocentric and polycentric mean?Polycentric Attitude: The idea that local workers are aware of the best working methods and commercial procedures is referred to as having a polycentric attitude. Geocentric Attitude: A geocentric attitude is a global perspective that emphasises using the best methods and connecting with individuals from all over the world.
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QUESTION 2 of 10: Medicare is a government program funded by tax dollars to:
a) Provide health insurance to children
b) Provide health insurance to working adults
c) Provide hospital insurance for those over 65
Which option identifies the marketing strategy demonstrated in the following scenario?
Department stores often have their own credit cards and mailings sent to card holders that offer incentives such as
percent discounts and early hour shopping days.
O product packaging
customer loyalty
O advertising
word-of-mouth
Answer: customer loyalty
Explanation:
The Code of Professional Ethics established by the American Institute of Certified Public Accountants states that accountants should be all of the following except a. honest b. outspoken c. independent d. objective
The Code of Professional Ethics established by the American Institute of Certified Public Accountants states that accountants should be all of the following except: b. outspoken.What is the American Institute of Certified Public Accountants (AICPA).
The American Institute of Certified Public Accountants (AICPA) is the world's largest organization for accounting and finance professionals, with over 400,000 members in 145 countries. The AICPA was established in 1887 to provide order to the US accounting profession and promote good practice. As an accounting professional, there are ethical standards and codes of conduct that must be followed in order to provide reliable and ethical accounting services and maintain the integrity of the profession.
The Code of Professional Ethics that was established by the American Institute of Certified Public Accountants states that accountants should be all of the following except outspoken. Being outspoken is not a necessary characteristic of a competent accountant. The other choices, honesty, independence, and objectivity, are required of all competent accountants.
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which type of chart would you create to compare expenses in each department as a percentage of all expenses?
Based on the information given, the best chart that can be used to represent the scenario will be an exploded pie chart.
A pie chart simply refers to a type of graph that's is used in displaying the data in a circular graph. In this case, the pieces are proportional to their fractions.
The exploded pie chart can be used in comparing the expenses in each department as a percentage of all expenses.
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how do contact lists differ from an address book?
Answer:
Contact lists contain more information about a person than an address book.
~faith
Explanation:
Hope you have a great day :)
When interest rates are so high that most potential buyers cannot afford to get a loan and property values are declining, this refers to A) the value of the property. B) the supply of the property. C) the demand for the property. D) the scarcity of the property.
When interest rates are high and potential buyers cannot afford to get a loan, and property values are declining, this refers to the demand for the property.
High interest rates make it more expensive to borrow money, which reduces the number of potential buyers who can afford to purchase a property. Additionally, declining property values indicate a decrease in demand, as buyers may be hesitant to invest in a property that is losing value. Therefore, the correct answer is C) the demand for the property.
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An example of public relations is a ____________.
Question 13 options:
television advertisement about a Memorial Day Sale at a local store
sales demonstration
one-page ad in Time Magazine
charitable activity such as an exhibit or parade sponsored by a business
Answer:
D- charitable activity such as an exhibit or parade sponsored by a business
Explanation:
charity commissions a public relations agency to create an advertising campaign to raise money to find a cure for a disease.
PLEASE HELP FAST!!! What is the MOST likely reason that lottery winners often end up with serious financial problems?
They make financial decisions that are not based on their emotions.
They become victims of fraud by those looking to take advantage of the wealthy.
They think over their financial decisions too thoroughly.
The weigh their long- and short-term financial goals before making any decisions.
Answer:
They become victims of fraud by those looking to take advantage of the wealthy.
Explanation:
The most likely reason that lottery winners often end up with serious financial problems is: “They become victims of fraud by those looking to take advantage of the wealthy.” Hence, Option B is correct.
What does financial problems mean?Financial difficulty is the inability to make either short-term or long-term debt payments. Debt makes managing money more difficult and reduces one's purchasing power.
Up until all obligations are paid, financial issues become a source of worry. It is necessary to find a solution so that debts can be paid back. Students frequently struggle to pay their bills and afford their education, and many of them have poor incomes, limited financial literacy, and many more.
Families are vulnerable to the destructive effects of economic hardship and financial turmoil. Many families lose their houses, automobiles, retirement accounts, valuables, money, health insurance, and other things during hard economic times.
Therefore, Option B is correct.
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I need Short Term, Med Term, and Long Term goals for a sports cleat business
Answer:
Short term: Try and sell the one pair of cleats that are used.
Med term: Try and sell Two pairs for a lower price like two pairs for $40
Long term: Try and sell all the cleats before you have to leave the store.
Explanation:
I like goals!
The Smith family adopted a child. The adoption procedure took about three months, and the family incurred various expenses. Will the Smiths receive any financial benefit for the taxable year?
A.
they will not receive any financial benefit for adopting the child
B.
their income tax component will decrease
C.
they will receive childcare grants
D.
they will receive a tax credit for the cost borne for adopting the child
E.
they will receive several tax deductions
They will receive a tax credit for the cost borne for adopting the child," is the most appropriate choice. Option D is the correct answer.
In many countries, including the United States, there are tax benefits available for families who adopt a child. These benefits aim to support and encourage adoption by providing financial assistance. One such benefit is the Adoption Tax Credit.
The Adoption Tax Credit allows eligible taxpayers to claim a credit for qualified adoption expenses incurred during the adoption process. These expenses can include adoption fees, court costs, attorney fees, and travel expenses. The credit is designed to help offset the financial burden associated with adoption.
It is important to note that the specifics of the Adoption Tax Credit, including eligibility criteria and the maximum amount of the credit, may vary depending on the country and its tax laws.
Therefore, it is recommended that the Smith family consult with a tax professional or refer to the relevant tax authorities to determine the exact benefits they may receive for the taxable year.
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what two accounts are affected when a business sells services on account
When a business sells services on account, the two accounts that are affected include Accounts Receivable and Service Revenue.What is an Accounts Receivable?Accounts Receivable refers to a legally enforceable claim for payment held by a business for the goods and services that it has provided to its customers.
As a result, when a company sells services or goods on account, it records a portion of its Accounts Receivable, or the amount it expects to receive in payment, as an asset on its balance sheet.What is Service Revenue?Service revenue is the revenue generated by a business by providing services to its customers. When a business performs services on account, that revenue is recorded as Service Revenue, which is also known as Sales Revenue or Sales Income, on the income statement.
What is an Accounts Receivable?Accounts Receivable refers to a legally enforceable claim for payment held by a business for the goods and services that it has provided to its customers. as an asset on its balance sheet.What is Service Revenue?Service revenue is the revenue generated by a business by providing services to its customers. When a business performs services on account, that revenue is recorded as Service Revenue, which is also known as Sales Revenue or Sales Income, on the income statement.
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you have determined you will need to have $32,000 saved up for your dream car in 6 years. your savings account earns 4% interest compounded quarterly. (a) if you can set aside money every quarter, how much would you need to deposit into your savings account every quarter? (b) how much total money will you put into the account? (c) how much total interest will you earn?
a) The quarterly deposit needed to reach the goal of $32,000 in 6 years is approximately $1,333.33.
b) The total amount deposited into the account over the 6-year period is approximately $31,999.92.
c) The total interest earned over the 6-year period would be approximately $0.08.
To calculate the amount needed to be deposited every quarter, the total amount required ($32,000) can be divided by the number of quarters in 6 years, which is 24 quarters (6 years * 4 quarters/year).
a) Calculation of quarterly deposit:
Amount needed to be deposited every quarter = Total amount required / Number of quarters
= $32,000 / 24
≈ $1,333.33
Therefore, you would need to deposit approximately $1,333.33 into your savings account every quarter to reach your goal of $32,000 in 6 years.
b) Calculation of total money deposited:
Total money deposited = Quarterly deposit * Number of quarters
= $1,333.33 * 24
= $31,999.92 (rounded to the nearest cent)
Therefore, the total amount of money you would put into the account over the 6-year period is approximately $31,999.92.
c) Calculation of total interest earned:
To calculate the total interest earned, we subtract the total amount deposited from the total amount required:
Total interest earned = Total amount required - Total money deposited
= $32,000 - $31,999.92
= $0.08 (rounded to the nearest cent)
Therefore, the total interest earned over the 6-year period would be approximately $0.08.
It's important to note that these calculations assume a constant deposit amount every quarter and a fixed interest rate of 4% compounded quarterly. Actual interest earned may vary based on the exact timing and frequency of deposits, as well as any fluctuations in interest rates.
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On January 15, the end of the first biweekly pay period of the year, North Company’s payroll register showed that its employees earned $32,000 of sales salaries. Withholdings from the employees’ salaries include FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, $3,000 of federal income taxes, $772 of medical insurance deductions, and $260 of union dues. No employee earned > $7,000 in this first period. Prepare the journal entry to record North Company’s January 15 (employee) payroll expenses and liabilities.
Answer:
January 15, wages expense
Dr Wages expense 32,000
Cr Federal income taxes withheld 3,000
Cr FICA taxes (OASDI) withheld payable 1,984
Cr FICA taxes (Medicare) withheld payable 464
Cr Medical insurance payable 772
Cr Union dues payable 260
Cr Wages payable 25,520
Unemployment taxes, both FUTA and SUTA, are only paid by the employer, therefore, they are not included in this journal entry. The employer also contributes the same amount of FICA taxes as employees.
Note that common tasks are listed toward the top, and less common tasks are listed toward the bottom. According to O*NET, what are some common tasks performed by Financial Analysts? Check all that apply. drawing charts and graphs to illustrate reports comparing insurance policies to determine the best choice informing investment decisions by analyzing financial information investigating cases of fraud helping families create realistic budgets
Answer:
A and C
Explanation:
BECAUSE I AM BIG BRAIN
Answer:
create client presentations of plan details
advise clients on aspects of capitalization, such as amounts, sources, or timing
Explanation:
I really need help with this asap
if waitresses and taxi drivers do not report all of their income to the government, gdp will be understated. this is because the unreported income group of answer choices involves the introduction of new goods. is part of the underground economy. is an example of nonmarket production.
The GDP will be understated for waitresses and drivers because is part of the underground economy.
We estimate that the under-measurement of the digital sector, which results from quick price drops, the abundance of new goods and services, and the scope of free commodities, is approximately 0.5% of GDP annually. The output is undervalued and inflation is inflated because the quality improvement is greatly under-measured.
GDP excludes domestic production and black market activity since it exclusively tracks the movement of goods through recognized, official markets. This is a significant omission, especially in developing nations when the majority of what is consumed is produced domestically (or obtained through barter)
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how quantitative research helps in ABM?
Answer:
Quantitative Research and ABM importance
Research is of paramount significance particularly at the early stages of any Account Based Marketing program. ... “ABM is all about understating your target audience and you can't do that without investing some form of research – be that traditional research or more data-driven approaches to delivering insight.”
In the context of inventory costs,__________can reflect lost sales for external customers or costs associated with interruptions to assembly lines for internal customers.
The correct answer is stockout cost.
In the context of inventory costs, stockout costs can reflect lost sales for external customers or costs linked with interruptions to assembly lines for many internal customers.
What is the stockout cost? When there is a shortage of inventory some of the income is lost. That lost income is called stockout cost.It is very difficult to determine stockout costs in a business.These costs can be avoided by maintaining a highly detailed record of the inventory. It also refers to the loss of income and the loss of customers. Stockouts can be caused by a variety of reasons. These reasons include misjudging the demand of products, late delivery of products by the supplier etc…Stockouts can be reduced by using a consignment inventory, using a JIT system, and using accurate demand forecasting.To learn more about stockout costs visit: https://brainly.com/question/14751936?
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What's the main reason to use a personal budget?
O A. To keep costs below benefits
O B. To stay out of debt
C. To appropriate discretionary funds
O D. To maximize investment returns
Answer: B, stay out of debt
Explanation: A budget reveals areas where you're spending too much money so you can refocus on your most important goals. A budget can keep you out of debt or help you get out of debt. A budget actually creates extra money for you to do use on things that matter to you.