Joan insures her house (with a market value of $50,000, not including $10,000 for the foundation and lot) with a $30,000 insurance policy calling for 80% co-insurance
A fire causes $10,000 worth of structural damage valued at replacement cost. Considering only the information provided, what amount is she likely to collect from the insurance company?
A)
$10,000
B)
$7,500
C)
$6,000
D)
$5,000
B
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Randy, Mona, and Richard are partners. Under the UPA, a creditor of their partnership must name all three partners as defendants in a suit on a contract obligation of the partnership
a. True b. False Indicate whether the statement is true or false
Marketing
A. does away with the need for advertising. B. applies to both profit and nonprofit organizations. C. says that marketing should take over all production, accounting, and financial activities. D. should begin as soon as goods are produced.
The requirement that each party to a contract must intentionally exchange something of value as an inducement to the other party to make a return exchange is known as:
a. mutual assent. b. quasi contract. c. promissory estoppel. d. consideration.
When spending is lower than expected for direct materials, the amount by which spending is less than planned is called an unfavorable direct-material variance (U).
Answer the following statement true (T) or false (F)