A Direct Loss Is Best Described as
Which of the following would be an example of a direct loss. Loss of rental income to the apartment.
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At one of the locations a neighboring store burns down and Jack is not able to remain open for business.
. C The 12000 is a direct loss and the 800 is an indirect loss. A The 12000 is an indirect loss and the 800 is a direct loss. Which term best describes the following.
The PV Ratio of the firm is. This distinction is important from an accounting perspective since the two types of labor are treated differently. Loss resulting from the surrendering of property in any exchange or purchase C.
A Section 5B of the Merger Agreement. Future costs that differ between competing. 15 Jack owns a chain of clothing stores.
B The 12000 is a direct loss and the 800 is also a direct loss. Are nonphysical losses such as loss of business. A girl may lose her scholarship due to academics.
The difference between direct labor and indirect labor is that only labor involved in the hands-on production of goods and services is considered to be direct labor. If a car is damaged in a collision the direct loss is the cost of repairs. The correct answer is.
The losses that the reasonable person might expect the relevant breach to produce. In some instances direct physical loss is not defined in the policy and a dispute as to coverage arises. Hot regions of a fluid or gas are less dense than cooler regions so they tend to rise.
If a firm experiences a fire in the warehouse the direct cost is the cost of rebuilding and replacing inventory. A principle holding that when two perils simultaneously cause a loss ie they are both considered the proximate cause of loss the insurer must pay the loss even if one of the perils is excluded by the policy. Which of the following definitions best describes Specific Named Peril Coverage.
Direct Loss loss incurred due to direct damage to property as opposed to time element or other indirect losses. A Direct loss is that which flows naturally according to the normal course of things from the breach of contract itself ie. For example a firm losing its clients because of street closure would be a.
If a tornado strikes a town and takes the roof off the building a direct loss would include damage to the structure as well as to equipment furniture inventory or other items inside. Which of the following definitions best describe a direct loss. An example is the salary of a.
If so the insured has the burden of proof to show that the claimed loss falls within the coverage provided by the policys insuring clause. Indicate whether each statement best describes the allowance method or the direct write-off. - 1 of 2 - Multiple Choice Question 9 of 24 15 Points.
Points deducted for incorrect answer. Actual physical damage to an insured risk. Costs that do not differ between competing decision alternatives are not relevant.
Which term best describes the following. Future costs that differ between competing decision alternatives. Direct costs do not need to be fixed in nature as their unit cost may change over time or depending on the quantity being utilized.
Direct loss happens in what a reasonable person would consider to be the usual course of things or ordinary circumstances. Quiz Answers Module 17 Relevant costs are best described as Select one. All other labor is by default classified as indirect labor.
Modern day at a library and in a school. Answer - 8550 units. But if the failure of power or other utility service results in a Covered Cause of Loss we will pay for the loss resulting from that Covered Cause of Loss.
Direct Loss means any loss liability claim damage or expense including reasonable legal fees and expenses incurred by i any Shareholder Indemnitee arising from relating to or as a result of the inaccuracy at the time made or deemed made of any of the representations or warranties set forth in. And b Section 5 of the Stock Purchase. Only those that differ are relevant.
Heat loss across a solid wall by conduction. Loss that does not arise naturally but that may reasonably be supposed to have been in the contemplation of both parties at the time they made the contract as the probable result of the breach. In insurance direct loss coverage refers to damage immediately inflicted by a disaster accident or other event known in insurance language as perils Direct Loss Example.
Consequential or indirect losses A nonphysical loss such as loss of business. Accounting or arithmetic errors or omissions. Dishonest acts of employees directors trustees or representatives D.
Direct loss is loss arising naturally according to the usual course of things from the breach of contract itself and is therefore foreseeable and recoverable. Convection is a process by which heat is transferred from one part of a fluid liquid or gas to another by the bulk movement of the fluid itself. As the warmer fluids rise they are replaced by cooler.
Which of the following best describes this type of loss. 1 Any loss caused directly or indirectly by the failure of power or other utility ser v-ice supplied to the described premises however caused if the failure occurs outside of a covered building. Usually does not best match sales and expenses because bad debts expense is not recorded until an account becomes uncollectible which.
Also used sometimes by captives to identify losses under policies directly insured by the captive as opposed to losses assumed from a front company. Matches the estimated loss from uncollectible accounts receivable against the sales they helped create. D The total loss of 12800 is a direct loss.
Fire to a house. Loss or damage to a locked safe vault or cash register B. The sales and profit of a firm for the year 2016 are Rs150000 and Rs20000 and for the year 2017 are Rs170000 and Rs25000 respectively.
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