Exclusions are used in insurance contracts for all of the following reasons EXCEPT:

(a) to provide a physical description of the property to be insured
(b) to prevent moral hazard from occurring
(c) to eliminate the duplication of coverage
(d) to avoid coverage of uninsurable perils

Answer: (a) to provide a physical description of the property to be insured

Business

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Young Company has provided the following information

Sales price per unit $52 Variable cost per unit 16 Fixed costs per month $14,000 Calculate the contribution margin per unit. A) $36.00 B) $52.00 C) $68.00 D) $16.00

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D&I Supplies, Inc selected cost data for the year are shown below

Work-in-Process Inventory, Jan. 1 $5,920 Direct Materials Used 101,000 Work-in-Process Inventory, Dec. 31 2,860 Cost of Goods Manufactured 193,100 Assuming manufacturing overhead costs of $27,800, what is the amount of direct labor incurred by D&I Supplies, Inc during the year? A) $64,300 B) $190,040 C) $61,240 D) $128,800

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