Explain the principle of subrogation. Provide a mathematical example of its use
What will be an ideal response?
Subrogation allows a party to collect from a negligent third party to the extent that they have paid for the rights. John's car is damaged $5,000 by a negligent driver and collects $4,500 due to a $500 deductible. The insurer subrogates against the negligent driver for payment. If the insurer collects anything it goes to John to first collect the $500. Any collection in excess goes to the insurer.
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A) To eliminate unqualified candidates B) To determine which candidate is the best fit C) To sell the candidate on the advantages of the organization D) To allow the candidate to meet people they will be working with E) To discuss salary and benefit requirements
A salesperson asks the prospect," What do you think about our new line of products?" Which approach is being used?
A. Opinion B. Curiosity C. Customer benefit D. Product E. SPIN
A compound journal entry has more than two accounts, but the total dollar value of the debits still must equal total dollar value of the credits
Indicate whether the statement is true or false
Quantity discounts cause companies to:
A) increase ordering costs. B) order less at a time. C) order sooner. D) increase their inventory. E) always save money.