Which of the following is a condition of a commercial general liability policy? Intentional act Premium audit Liquor liability Employers liability

Q: may an action arising from negligence be waived? explain

A: Negligence refers to very small and insignificant result which needs to be inspect or check. The…

Q: Which of the following statements best describes controlled business? Insurance agencies that are…

A: Insurance is an agreement between the two parties under which one party agrees to provide financial…

Q: At what point would it be necessary to purchase a Personal Liability Umbrella policy?

A: Umbrella policies are relatively inexpensive so they are worth the inevstment.

Q: Briefly comment on the following questions or statements. a) Describe approaches to minimizing legal…

A: a) Legal liability refers to  a situation which is answerable or responsible in law. It covers both…

Q: What are the prohibitions in the Code of Ethics for Professional Accountants

A: The International Code of Ethics for Professional Accountants, (including Worldwide Independence…

Q: What are the ethical and professional expectations for CPA's by the accounting prefession?

A: Auditors work on behalf of shareholders and various other stakeholders; whereas, they are required…

Q: What are the section in the Code of Ethics for Professional Accoountants that has Prohibitions?

A: Prohibitions are stated in the following section

Q: Which one of the following code of ethics, shows the way to professional accountant to comply with…

A: Code of ethics are referred to as the set of rules that are being provided to the professional so…

Q: When is revenue recognized by service provider? By a merchandiser? By a manufacturer? Give examples…

A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: ain ONE key financial risk that an insurance company is exposed to. Explain the policies and…

A: Basic Concept of Insurance Financial risk in insurance and Mitigation

Q: Which one of the following category unearned revenue belong to? a. Limited liability b. Current…

A: Introduction: Balance sheet: All Assets and liabilities are shown in Balance sheet. It tells the net…

Q: 1. S1: Maker Co, a manufacture and dealer of household appliances, agrees to indemnify a customer of…

A: "Since you have asked multiple questions, we will solve the first question for you. If you want any…

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

A: Commercial General Liability (CGL) policy: You can safeguard your firm from financial ruin with a…

Q: The PRIMARY function of an umbrella liability insurance policy is to provide coverage for   • A.…

A: Umbrella Insurance is extra insurance that provides protection beyond existing limits of other…

Q: MATCH WITH THE  BEST ANSWER Liability Insurance Mistakes happen. You, your employees, your…

A: Insurance: It is an agreement between two parties where a party undertakes to cover the other party…

Q: Which of the following statements best describes controlled business? Insurance agencies that are…

A: The correct answer for the above mtnioned question is given in the following steps for you…

Q: Which of the following is an exception for application of IFRS 15? O Pharmaceutical contracts O All…

A: As Per IFRS 15, An entity shall apply this Standard to all contracts with customers, except the…

Q: In a Commercial General Liability policy, reasonable first aid expenses are paid regardless of fault…

A: Commercial general liability policy insures or protects the business against any unwanted damage to…

Q: How Limited liability is different to unlimited liability? Briefly explain with an example of…

A: Limited liability is the type of organization where loss to the corporation will not exceed amount…

Q: What engagements are covered by the AICPA Code of Professional Conduct?

A:

Q: insurance that protects the directors and officers of a company a. director and office policy b.…

A: The term “insurance” can be defined as the financial security provided by the insurer to the insured…

Q: TRUE OR FALSE EMPLOYEES CAN BE CONSIDERED BOTH AN ASSET AND A LIABILITY

A: Asset and Liabilities are the backbone of a firm , as they give a clear picture of a company's…

Q: ABC Corp. sells warehouse equipment and provides temporary warehouse workers to businesses. With its…

A: Introduction:- A liability is defined as future economic advantages sacrificed by an entity to other…

Q: define contingent liability and give an example. How would you management of a company distort a…

A: Solution Concept Contingent liability               Contingent liability means the liability which…

Q: Insuring clause in an Accident & Health policy states which of the following information? A. The…

A: There are different clause in the insurance policy that what is covered and what is not covered and…

Q: Company

A: Insurance is defined as a financial arrangement between the insured & the insurance company…

Q: In case of life insurance policies with profits, policy holders are given the right to participate…

A: Answer

Q: What is a Liability? Describe different types of Liability a company can have with examples.

A: A liability is a responsibility of a company happen due to a past incident done by the company. For…

Q: Which of the following is an exception for application of IFRS 15? Oa. Insurance contracts. O b.…

A: Following are some exclusions from IFRS 15: Leases (IAS 17 or IFRS 16) Financial instruments and…

Q: explain the principles of classical immunization strategy to meet a single liability obligation

A: Immunization is referred to as a strategy to mitigate the chance that matches the duration of asset…

Q: Which of the following term is related to the compliance of business ethics? O a. Public image O b.…

A: The entity needs to comply with their business ethics for long term growth and focus on both…

Q: What makes product warranties considered as contingent liabilities? Also, what Generally Accepted…

A: Contingent Liability is a liabilty that may arise in outcome of future uncertain amount.

Q: Describe Contract View of Business Firm's Duties to Custómer. What is the moral duty to consumers…

A: Contract view of the obligation of the company to their customer: The view that the partnership…

Q: How does insurance commission assures the investing public on the safety of the insurance products…

A: Insurance Commission is an amount paid to the broker or agent of insurance products for selling the…

Q: Identify which one of the following is a meaning of limited liability: a. Restriction on personal…

A: which one of the following is a meaning of limited liability::Option A is Correct...Restriction on…

Q: What is the maximum penalty for a licensee who has intentionally violated the insurance code of…

A: the event that the action by the Insurance Commissioner is to nonrenew or to deny an application for…

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 one of the following statements is false relating to protection for whistle-blowers jn terms…

A: Option A: True, Disclosures made by whistle blowers must be in good faith must and must be based on…

Q: Which of the following documentary evidence is considered ? the most reliable Select one a. Written…

A: Audit refers to the evaluation of companies financial statement by the auditor in order to check the…

Q: Goods on consignment should be included in the inventory of

A: As per our protocol we provide solution to the one question only and that too if the question is…

Q: Liability arises from all of the following situation except A negligent act Breach of duty…

A: Liabilities means the dues or obligations of the business organisation, which needs to be settled or…

Q: Explain the ethical consideration or ethical values to be followed/maintained in the accounting…

A: The not for profit organizations does not operate to undertake economic activities with a motive to…

Q: Following the American Institute of Certified Public Accountants (AICPA) code of professional…

A: All AICPA members must adhere to a strict Code of Professional Conduct that mandates them to behave…