Some insurance policies have deductibles. A deductible is an amount of a claim not covered by nsurance. It's a fixed portion of the medical bills that the insured person must pay in order to make a claim to their insurer. Suppose Rosa's insurance company provides two plans. Plan A has zero deductibles (good!) but charges a high premium (bad!). Specifically, Plan A charges $591 for full coverage. Plan B has a deductible of $197, but charges a premium of just $199. Will Rosa purchase insurance and, if so, which plan?
Q: Gunes Corporation uses the weighted-average method in its process costing system. This month, the be...
A: As per the weighted average method, equivalent units are calculated based on two aspects: units tra...
Q: Required information Exercise B-37, 8-38, 8-39, 8-40o (Algo) (LO 8-2, 3, 5) (The folowing informatio...
A: Cost of goods transferred out is the total cost of equivalent units transferred out. Cost of ending ...
Q: DelPo Ltd is a construction company specialising in the construction bungalow and camping structures...
A: Introduction Concept of Substance over form states that the financial statements and its disclosures...
Q: Eugene and Alfred are partners in their Ghost Fighting business. Alfred is the managing partner. As ...
A: The partnership comes into existence when two or more persons agree to do the business and share pro...
Q: 28. A business pays weekly salaries of $20,000 on Friday for a five-day week ending on that day. The...
A: The use of adjusting entries can assist any accounting transaction. The five most common are accrued...
Q: Mundes Corporation uses the weighted-average method in its process costing system. The beginning wor...
A: Given that : Number of unit transferred and completed = 8,000 units Material cost =$4 Conversion Co...
Q: Acme had a P22,000 favorable fixed overhead budget variance, a P15,000 unfavorable variable overhead...
A: Volume variance arises when there is difference in units produced as per actual and as per budget. I...
Q: When a sale is made with the credit terms of 2/10, net 30, the discount of ____% will be used if pai...
A: Solution:- 1)When a sale is made with the credit terms of 2/10, net 30, the following percentage of ...
Q: On January 1, 200A, ABC rendered services to XYZ at a price of P450,000. ABC received P500,000 5-yea...
A: ABC delivered services to XYZ at a cost of P450,000, as stated on January 1, 200A. XYZ issued ABC a ...
Q: International Co. is a firm that is experiencing rapid growth. Lately, the firm paid a dividend of P...
A: Last dividend = P5.90 Growth rate for first 3 years = 19% Growth rate after 3 years = 7% Required r...
Q: Mercedes is assessing which of two windshield suppliersprovides a better environmental design for di...
A: Given as,
Q: Juno is a seaman employed abroad in an international vessel that operates exclusively in internation...
A: As per the provisions of BIR , in Phillipines , the residents are...
Q: One item is omitted from each of the following computations of the return on investment: Rate of Ret...
A: Ratio Analysis is one of the various tools to analyze financial statements. Through Ratio Analysis p...
Q: If the firm's dividend policy was to pay P0.25 per share each period except when earnings exceed P1....
A: Dividend is paid from the earning In the given question Earning per share less than P1.50 dividend ...
Q: In a lease that is recorded as a sales-type lease by the lessor, interest revenue should be recogn...
A: Solution: Under sales-type lease, the lessor recognized sales revenue once asset is given on lease. ...
Q: Under a Contract of Sale, Ana bound herself to deliver a diamond ring to Ben for P50,000 to be used ...
A: Prestation is the object of the contract. It may 1.be an obligation to give, to do or not to do. ...
Q: Which of the following accurately shows the constraint on the daily capacity for the second producti...
A: In business and industry, linear programming is used for production planning, transportation and rou...
Q: Midlands Inc. had a bad year in 2019. For the first time in its history, it operated at a loss. The ...
A: Breakeven point in terms of amounts is equal to the amount which must be sold to cover the fixed cos...
Q: Refer to the given information on the different exchange rates relative to the Philippine Peso. Roun...
A: Exchange rates: The exchange rates mean the value of one unit of a country's money in relation t...
Q: 1 The company's bank statement shows a cash balance of $12,000. Comparing the company's cash records...
A: Pretax income is the excess of sales over cost of goods sold and all operating and non-operating exp...
Q: You are working for a venture capitalist (VC). The VC is interested in acquiring a one-third stake i...
A: Venture capitalist refers to when the capital is invested in a project and there is a substantial el...
Q: Oak View Chemicals produces two main products, M-10 and M-20, and one by-product, B-60, from a singl...
A: GIVEN If Processed Further Product Units Produced Unit Sales Value at Split-off Add...
Q: All Things Brass produces brass handles for the furniture industry in a four-stage process -Mixing, ...
A: GIVEN All things brass produces brass handles for the furniture industry in a four-stage process -...
Q: A gain on the sale of a plant asset in the ordinary course of business should be presented in a stat...
A: A cash flow statement is a financial document that shows a company's overall cash position at the co...
Q: WatchNU is a company that designs and manufacturers drones for military use. The supply manager is g...
A: The decision to insource or outsource any input depends upon the cost involved in both options. The ...
Q: Jared Beverage Corporation uses a process costing system to collect costs related to the production ...
A: Process account is a equivalent of manufacturing account. In process account, complete unit in one p...
Q: From the following data, compute net sales. Sales $537,000 Sales returns and allowances 6,315 Sales ...
A: given Sales $537,000Sales returns and allowances 6,315Sales discounts 715Net sales: $
Q: 45000 65000 p00 190000 160000 (2010) Physical Asset Management 3,140/yr
A: Step 1 Economic life is the life of an asset till the time it can be used. The EUAC of the defende...
Q: Question One Njenge Bank has the following balance sheet (in millions) with the risk weights in pare...
A: As per Bartleby policy, only the first three interlinked parts are answered of the first question. I...
Q: A company acquired a building, paying a portion of the purchase price in cash and issuing a mortgage...
A: Purchase of a building is an investing activity. Increase in the note payable is a financing activit...
Q: On November 1, 2021, Mason Company issued P4,000,000 of 10-year, 8% term bonds dated October 1, 2021...
A: The accrued interest is the current liabilities for the business, which is due for payment but not p...
Q: jenge Bank has the followin parentheses. Assets Cash OECD Interbank deposit
A: Business loan- A business loan, also known as a commercial loan, is a type of financing used to cove...
Q: National Co. follows a strict residual dividend policy. The company is forecasting that its net inc...
A: Solution Working note = Total capital budget = 300000000. Equity = 30000000*50% = 150000000. Debt = ...
Q: Suppose that products A, B, Cnd D have price elasticity of demand coefficients of 0.67, 1.24, 2.01 a...
A: Price elasticity is a measure of responsiveness of a product to its price rise. If the price is incr...
Q: 3.a. AG Pharma has taken deposits from the public under the name Public Deposit, for a duration of 5...
A: Public deposits means the unsecured amount of money invited through companies from public mainly for...
Q: Sun & Ski Corporation is the producer of a ski goggle. Next period's budget data appear below. Selli...
A: Formula: Margin of safety = Current sales - Break even sales
Q: When using the indirect method to prepare the operating section of a statement of cash flows, which ...
A: Solution: Under indirect method of statement of cash flows, operating activities section is starts f...
Q: Martin Company purchases a machine at the beginning of the year at a cost of $155,000. The machine i...
A: Depreciation is an accounting strategy that spreads the cost of a tangible or physical thing over it...
Q: If the firm's dividend policy was to pay PO.25 per share each period except when earnings exceed P1....
A: In the given question, the earnings of the company for 2020 are P 3.50 per share. As per company’s p...
Q: Krueger Corporation manufactures a single product whose selling price is $134 per unit and whose var...
A: Units to be Sold for Target Profit = (Fixed Expense + Target Profit) / Contribution Per Unit Contrib...
Q: QUESTION 1 Identify each of the costs listed below. A. Variable Cost Straight-line depreciation on f...
A: Introduction: A decrease in the value of an asset might be caused by a variety of different variable...
Q: Maxwell Corporation wants to acquire a retail chain store, Good Way. After a few round of talks Good...
A: The acquisition of a business is done to expand the existing business and to take synergy benefit. T...
Q: What are bonds classified as?
A: Issue of bonds is a source of funds of a company. They are an acknowledgement of debt taken by the i...
Q: what happen to the account if the owner pay trade payable using own personal bank?
A:
Q: 28. A business pays weekly salaries of $20,000 on Friday for a five-day week ending on that day. The...
A: There are 3 golden rules in accounting for passing journal entries : 1. Debit what comes in , Credi...
Q: Luna Sea Sushi, Inc. has total costs of $130,000 when it sells 40,000 units. If total fixed costs ar...
A: Variable cost per unit can be calculated by dividing total variable cost by total units.
Q: Date Account Titles and Explanation PR Debit Credit 2019 P 200,000 Oscar. David, an architect, estab...
A: Ledgers - After recording transactions in the journal next step is to transfer them into ledgers. Le...
Q: During the tax year ending on 30 June 2016, XYZ Ltd, a resident Australian company, received a frank...
A: In this question , we will calculate XYZ Ltd's tax payable or refundable for the 2016 tax year.
Q: The initial amount of the note receivable
A: The notes receivable would be calculated as present value of annual lease payment on the loan. The p...
Q: On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $83,010 in...
A: The statement which shows the final balances of all assets, liabilities and equity amounts in a desc...
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- What is a deductible? A) the maximum amount a policy will pay out in any one year B) the amount paid after the deductible has been satisfied and until the out of pocket maximum has been reached C) the amount paid by the policyholder before the insurance policy starts paying on the claim D) the amount paid by the policyholder to the insurer on a regular basis for the policyif the company is self-insured and the insurance plan says that it does not cover health routine and check up, does that mean that the company is still paying for that amount or not? for example: Plan A would charge a $350 premium with no deductible. Coverage is extended to pre-existing conditions, but to cover the non-deductible clause, health screening and routine check-ups are not covered. In this case, is the company only paying $350 or $350 PLUS the health screening?is an amount one pays out of pocket for an insurance claim before your insurance benefits kick in. An Insurance Deductible Insurance Claim O Insurance premium O Coverage Limit
- What is a premium? A) the amount paid by the policyholder before the insurance policy starts paying on the claim B) the maximum amount a policy will pay out in any one year C) the amount paid by the policyholder to the insurer on a regular basis for the policy D) the amount paid after the deductible has been satisfied and until the out of pocket maximum has been reachedA "waiver-of-premium” clause: Select one: a. allows the person to purchase additional insurance at no extra cost means the insured will receive the cash value immediately allows an insurance agent to pay your premiums b. C. O d. waives the suicide clause e. pays premiums in the event of illness or disability Clear my choiceWhat does the insurer agree to pay for in addition to covering losses in an insurance policy? Services such as investigating claims and defending the insured The entire policy limit Premium costs for the policy period Only losses below the deductible
- 8. What is the difference between a copay and coinsurance? a. Copay is typically a percentage of the health care service, coinsurance is a flat fee b. Copay is typically a flat fee, coinsurance is a percentage of the health care service c. Copay is paid by the individual when receiving a health care service, coinsurance is paid by the insurance companyUnder the revised Annuity Suitability Model Regulation, all obligations to meet the consumer best interest standard and ensure that a consumer's financial needs and objectives are addressed now fall to the producer. Insurers have no obligations or practice standards under the new regulation. A.True b. False5. Some peode have high deductibles on their insurance policies in order to lower their mopthly-rates. Others have lower deductibles, but higher insurance rates. Under whät circumstances wouid one or the other be the better choice? C.
- In the context of the health insurance and the life insurance, choose the sentence that IS NOT CORRECT: * The deductible in a health insurance is an amount of money the insured must pay before benefits become payable by the insurance company. When we buy a health insurance, we should make sure that we have enough insurance (the opportunity cost of not being adequately insured can be extremely high), but without wasting money by overinsuring Group Health Insurance (most of them being employer sponsored) represents a small percentage (around 5%) of all health insurance issued by health and life insurance companies. In a life insurance, a person purchases a policy by paying a premium and the insurance company promises to pay a sum of money at the time of the policyholder’s death to the designated beneficiary.An important distinction in health insurance is between the list price (PL) and out-of-pocket price (PP) of a medical good or service. The list price is the official price that the provider charges the insurance company, while the out-of-pocket price is the price that the insurance customer faces. Sometimes, the out-of-pocket price depends on the list price. Now assume the consumer is part of a partial insurance plan with a coinsurance provision. Her insurance pays 50% of all medical expenses. Consider again the relationship between PL and PP and plot a coinsurance plan demand curve in PL - Q space. Label this curve D3. Finally, assume the consumer is part of a partial insurance plan with a copayment provision. Her insurance pays all expenses above and beyond her copayment of $25 for each unit of Q. Consider again the relationship between PL and PP and plot a copayment-plan demand curve in PL - Q space. Label this curve D4.1. Which of the following is true about the self-employed health insurance deduction? a.The cost of insurance for dependent children is not allowed. b.Long-term care insurance is allowed as a deduction, subject to a dollar limitation. c.Life insurance is allowed as a deduction. d.Medical insurance is allowed as a deduction, subject to a dollar limitation. e.Dental insurance is not part of the allowable deduction. 2. Jody is a physician's assistant (not covered by a retirement plan) with a salary of $40,000 from the hospital where she is employed. She supports her husband, Andre, who sells art work and has no earned income. They have no other sources of income. Both are in their twenties. What is the maximum total amount that Jody and Andre may contribute to their traditional IRAs and deduct for the 2021 tax year? a.$12,000 b.$6,000 c.$5,500 d.$11,000 e.None of these choices are correct. 3. Gail is a single elementary school teacher. She buys the following items for use in her…