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Terms in this set (19)Students also viewedOther sets by this creatorVerified questionsworld geography Verified answer
finance Shown here are condensed income statements for two different companies (both are organized as LLCs and pay no income taxes). $$ \begin{matrix} \text{Ellis Company}\\ \text{Sales} \ldots\ldots\ldots & \text{\$240,000}\\ \text{Variable expenses (50\\%)}\ldots\ldots\ldots & \text{120,000}\\ \text{Income before interest}\ldots\ldots\ldots & \text{120,000}\\ \text{Interest expense (fixed)} \ldots\ldots\ldots & \text{90,000}\\ \text{Net income} \ldots\ldots\ldots & \text{\$ 30,000}\\ \end{matrix} $$ $$ \begin{matrix} \text{Seidel Company}\\ \text{Sales} & \text{\$240,000}\\ \text{Variable expenses (75\\%)} & \text{180,000}\\ \text{Income before interest} & \text{60,000}\\ \text{Interest expense (fixed)} & \text{30,000}\\ \text{Net income} & \text{\$ 30,000}\\ \end{matrix} $$ 1. Compute times interest earned for Ellis Company. 2. Compute times interest earned for Seidel Company. 3. What happens to each company’s net income if sales increase by 10%? 4. What happens to each company’s net income if sales increase by 40%? 5. What happens to each company’s net income if sales increase by 90%? 6. What happens to each company’s net income if sales decrease by 20%? 7. What happens to each company’s net income if sales decrease by 50%? 8. What happens to each company’s net income if sales decrease by 80%? 9. Comment on the results from parts 3 through 8 in relation to the fixed-cost strategies of the two companies and the ratio values you computed in parts 1 and 2. Verified answer When a misrepresentation of a life insurance policy application is discovered?If a misrepresentation is discovered on an application after the policy has been issued, and during the contestability period, the insurance company could still pay a claim based on the coverage amount that you would have had if you had paid the correct premium from the start.
Which of the following protects a policyowner from a misrepresentation caused by an innocent mistake quizlet?Incontestable Clause. This clause protects policyowners from a misrepresentation caused by his/her own innocent mistake. Which type of rider will waive the premium on a child's life insurance policy if the parent paying the premium dies? Payor Benefit.
What are the key provisions in a life insurance policy states that the application is considered part of the contract?There are 2 major contract provisions that prevent the insurer from canceling the insurance unilaterally: the entire contract clause and the incontestable clause. The entire contract clause states that the contract and the application for life insurance constitutes the entire contract.
What does the insuring agreement in a life insurance contract establish quizlet?What does the insuring agreement in a Life insurance contract establish? When an insurer issues a policy that refuses to cover certain risks, this is referred to as a(n): "Insuring Agreement". The insuring clause or provision sets forth the company's basic promise to pay benefits upon the insured's death.
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When a misrepresentation on a life insurance policy application discovered quizlet?
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