Deductibles are not used in which of the following type of insurance?

Q: What is the purpose of an allowance for uncollectibles and why is it important?

A: Accounts receivable is the current asset and the amount that is not received yet from the customer…

Q: What are insurance funds and what are examples of insurance funds?

A: The Insurance Fund is a common fund on Bybit that goes about as the first line of defense against…

Q: Contrast accounting for pensions to accounting for other postretirement benefits.

A: Pension plan: This is the plan devised by corporations to pay the employees an income after their…

Q: What kind of insurance  forms may not be included in the comprehensive forms?

A: Insurance: Insurance is the protection against an individual or an asset for the financial losses…

Q: Briefly explain the difference between an insurance and an assurancepolicy?

A: Insurance policy and Assurance policy are two different policies.  Insurance policy provides…

Q: Describe the Rights of the Surety.

A: A surety is a person or entity that takes on the risk of another party defaulting on their debts or…

Q: The components of postretirement benefit expense are similar to the components of pension expense.…

A: Other postretirement benefits: The postretirement benefits which are provided by employers, other…

Q: In what circumstance would a property insurance claim be rejected?

A: An insurance claim is a written request for coverage or compensation from an insurance company for a…

Q: b) Define deductible. c) What happens to your premium when the deductible is lowered? d) List three…

A: Honor code: Since you have posted a question with multiple sub-parts, we will solve the first three…

Q: True or False? 1. An insurance contract is derecognized when it is extinguished and when it is…

A: An insurance contract is a contract between the two parties where one party promises to pay the…

Q: ification fo

A: Employees working with an entity for a specific number of years are eligible for retirement…

Q: Explain the differences between a collision deductible and a health insurance deductible

A: Collision insurance is usually done for vehicles and covers collision with other vehicle, or…

Q: What is the difference between life insurance and annuity?

A: Meaning:Life insurance is a cover on financial loss, and it is a contract between insurer and a…

Q: 21. What is the form that filled out by insured if a loss is suffered? *

A: Takaful is a sort of Islamic insurance in which members combine their funds to protect one another…

Q: Which of the following modification of terms will not qualif, for derecognition of financial…

A: Solution Concept Derecognition of financial liability A financial liability is derecognized when the…

Q: ability Act (HIPAA), which of the following plans does NOT qualify as creditable coverage? rice

A: The question mentions what is included in HIPPA compliance

Q: What is the difference between equity of redemption and statutory redemption?

A: The difference between equity of redemption and statutory redemption are:

Q: ayment made by the lessee to the lessor? A. None of the above B. If the advance payment representing…

A: A lessee is someone who rents property or land from a lessor. The lessee, sometimes known as the…

Q: Discuss the primary differences between U.S. GAAP and IFRS with respect to accounting for…

A: Under IFRS, defined benefit plan assets are valued at fair value. Under U.S. GAAP, defined benefit…

Q: 5. Related to insurance, what is a deductible and how does it

A: In insurance scheme there is always mentioned deductible amount.

Q: The following are exclusions from gross income, except    Proceeds of life insurance policies.…

A: The income earned by an individual before any deductions and allowances is considered Gross Income.

Q: In computing the interest component of pension expense, what interest rates may be used?

A: Pension expense: Pension expense is an expense to the employer paid as compensation after the…

Q: When intially recognizing the cash surrender value, what is the reason behind the allocation between…

A: Matching Principle Concept-:Matching precept is the accounting belief that compels that the…

Q: what are the legal provisions related to Taxable Income, Medicare Levy, and Medicare Levy surcharge?

A: Medicare Levy Medicare levy helps in funding the Australia's health system known medicare Medicate…

Q: What are the assumption of differences between pension plans and other postretirement benefit plans?

A: Pension plan: This is the plan devised by corporations to pay the employees an income after their…

Q: Which of the following transactions would not result in a temporary difference between pretax…

A: Correct option is D. Payment of premiums for life insurance

Q: What is meant by ‘Issue of debenture at discount and redeemable at premium?

A: Bonds:   Bonds are debt instruments issued by the borrower company to its lenders. Bonds are issued…

Q: Explain the rights of a creditor against a surety and the rights of a surety, including those of a…

A: Surety bond used to involve the promise through the one party by assuming the responsibilities…

Q: Which of the following is not an example of an asset? 
   Group of answer choices Supplies. Accounts…

A: Supplies are the current assets which represent the cost of supplies on hand. Account receivable are…

Q: The following are excluded from gross income, except:  a. Proceeds of life insurance policy received…

A: Gross Income Gross income refers to the income of an individual which comprises income from wages…

Q: How do U.S. GAAP and IFRS differ with regard to reporting gains and losses from changing assumptions…

A: Definition: Pension plan: It refers to a plan that is formulated to provide earnings to the…

Q: what are the advantages of high deductible on home insurance

A: A percentage deductible is generally greater than a conventional flat rate based on your houses'…

Q: Required: a. if arturito will accept the special order, what is the incrementak benefit(loss)?

A: Variable cost means the cost which vary with the level of output where as fixed cost remain fixed…

Q: Which of the following sections of a commercial general liability policy contains information about…

A: Insurance is the process through which an individual or corporation is provided financial coverage…

Q: Which of the following statements about prepaid insurance is true?

A: Prepaid insurance is a current asset which is created when the insurance paid comprises of a portion…

Q: How does accounting for postretirement benefits similar in most respects to accounting for pension…

A: Pension plan: This is the plan devised by corporations to pay the employees an income after their…

Q: 1. Which of the following modification of terms will not qualify for derecognition of financial…

A: Solution Concept Derecognition of financial liability A financial liability is derecognized when the…

Q: When it comes to pension plans and other postretirement benefit schemes, what assumptions are made…

A: The answer

Q: Should liability for rent deposit be amortized? Why or why not?

A: The assets are amortized as they provide benefits for the long period.

Q: /hich is correct concerning the effect of asset ceiling in a defined enefit plan? O It is the excess…

A: Benifit asset : it recognises an asset measured as the amount of the surplus at the balance sheet…

Q: Under what circumstances should a loss contingency be accrued?

A: Loss contingency: Loss contingency is contingency where existing situation or circumstances where…