What should be included in a financial plan to protect assets?

Answers

Answer 1

Answer: In financial planning, in order to protect your assets you may consider insurance. Insurance plays an important role in any sound of financial planning. There are different types of insurance to help you protect your assets. An example is a car insurance which helps you protect from damage to the often-considerable investment in a car.

Related Questions

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A lease calls for a minimum rent of $2800 per month plus 4% of annual gross sales in excess of $500,000. What is the annual rent if the annual gross sales were $725,500?
Jim Walton performed services on credit for $2,450. A debit for this transaction should be recorded toA. revenue. B. accounts receivable. C. accounts payable. D. cash.
Joan grows pumpkins. If Joan plants no seeds on her farm, she gets no harvest. If she plants 1 bag of seeds, she gets 500 pumpkins. If she plants 2 bags, she gets 800 pumpkins. If she plants 3 bags, she gets 900 pumpkins. A bag of seeds costs $100, and seeds are her only cost. Joan's production function exhibitsA. Increasing marginal product. B. Decreasing marginal product. C. Constant marginal product. D. Any of the above could be correct.
Which of the following is true concerning federal budget deficits? I. The IRS spends more than it collects in taxes in a given year. II. The Federal Government spends more than it collects in taxes in a given year. III. Unemployment is greater than taxes collected in a given year.

5. What happens to price when a good becomes more scarce?a. Price will decrease.
b. Price will remain constant.
c. Price will increase.
d. There is not enough information to answer this question.

Answers

pretty sure it’s C. Price will increases

Answer:

C. Price increases.

Explanation:

Supply for the good decreases while demand remains constant, and people would have to compete with each other more to obtain the good

The seller would naturally sell the good to the highest bidder/buyer so as to maximise his profit, thus as a good becomes scarcer, its price increases

As the sonic brand grew, troy smith formed a business relationship with charlie pappe. This form of business ownership was a

Answers

Answer: Partnership

A partnership is a from of business ownership who come together with mutual consent in order to manage the business and share its profits.

The terms and conditions of this agreement and the quantum of profit for each partner is clearly stated in a document called the partnership agreement.

All the partners who actively manage the business and share the profits are called General Partners. The general partners are jointly and severally liable for the debts incurred by the partnership.

The form of business ownership was a partnership.

Further Explanation:

Partnership:

Partnership refers to the formal agreement between two or more parties for carrying out the business activities and participates in the profit and loss sharing of the business. There are many types of partnerships. In partnership, the liabilities of the partners are unlimited. However, in the case of limited liability partnership, the liabilities of the partners are limited.

Determine the form of business ownership:

In the given case, Troy formed a business relationship with Charlie Pappe. Earlier, the Sonic brand was managed and operated by Troy alone. Therefore, it was a sole proprietorship before the introduction of Charlie Pappe. After the introduction of Charlie Pappe, there are two members in the business ownership. The business form of two people is classified as a partnership.

Thus, the form of business ownership was a partnership.

Learn More:

Learn more about the advantages of the sole proprietorshipbrainly.com/question/999392
Learn more about the partnershipbrainly.com/question/1603188
Learn more about the types of associationbrainly.com/question/2977841

Answer Details:

Grade: Middle school

Chapter: Partnership

Subject: Business studies

Keywords: sonic, brand, grew, troy, smith, formed, business, relationship, Charlie, Pappe, form, business, ownership, unlimited partnership, company, two or more, members.

A teenage driver crashes her parents' minivan into an office building, causing $85,000 in damage to the building. The automobile liability insurance limits are 100/250/75. How will the damages be allocated between the driver and the insurance company?

Answers

Explanation:

Given that

Damage to the building = $85,000

The insurance limits is

100/25/75 means

$100,000 is the coverage amount for death also

25,000 is the bodily injury per accident

And, the 75,000 is the damage of the property

So the damage allocated between the driver and the insurance company is $10,000 which is a difference amount of

= $85,000 - $10,000

= $75,000

Because maximum amount is $75,000

Based on new information gained during an audit of a nonissuer, an auditor determines that it is necessary to modify materiality for the financial statements as a whole. In this circumstance, which of the following statements is accurate? A. The auditor is required to reperform audit procedures already completed on the audit using the revised materiality.
B. The auditor should consider disclaiming an opinion due to a scope limitation.
C. The revision of materiality at the financial statement level will not affect the planned nature and timing of audit procedures, only the extent of those procedures.
D. Materiality levels for particular classes of transactions, account balances, or disclosures might also need to be revised.

Answers

Answer:

The correct answer is D. Materiality levels for particular classes of transactions, account balances, or disclosures might also need to be revised.

Explanation:

The need for less materiality for significant account / disclosure may occur infrequently; however, it may be appropriate in certain circumstances. The materiality of performance related to a lower materiality for the significant account / disclosure is set to reduce to an adequately low level the probability that the sum of the errors not corrected and not detected in that significant account or particular disclosure exceeds the materiality Minor account / significant disclosure.

We must document the minor amount of the materiality of the significant account / disclosure, if applicable, for each specific significant account or disclosure and the factors considered in its determination.

Materiality Modification

The materiality for the financial statements taken together (and, if applicable, the lower materiality for the significant account / disclosure) may be modified as a result of:

A change in circumstances that occurred during the audit. New information, or
A change in our understanding of the entity and its operations as a result of performing additional audit procedures.

Jack has to pay_______?A.)excise
B.)gift
C.)property
D.)Sales
tax to the government for his house. This type of tax is_____?
A.)a direct
B.)an indirect
C.)a proportional
D.)a regressive
tax.

Answers

Answer:

The answers are:

C) property
A) direct tax

Explanation:

Property taxes are usually levied by local governments and are paid by the owner of the real estate which is being taxed. Many local governments use property taxes to fund local school programs, road maintenance, local police, libraries, etc.

Property taxes are direct taxes since they are paid directly by the taxpayer (owner of the real estate).

its property tax and direct

PLEASE HURRY In the space provided below, please respond to the following: Create a list of business risks and ways to deal with them.

This project will focus on writing about a current event in business risks. The task is to first find an article that deals with business risks and write a summary of the article. In your summary, you should discuss what the risk is and what steps the business is taking to deal with it.

Current Event
Use the Internet to find an article that deals with business risks. Once you have found and read your article, record your summary and upload it. Use the following format.

Paragraph #1 - Summary of article including the link
Paragraph #2 - How it relates to entrepreneurship
Paragraph #3 - Your opinion of whether or not you think the appropriate steps are being taken to deal with the risk

Answers

Answer:

Explanation:

yes

Other Questions

Viola took out a $8,470 Stafford loan at the beginning of her four-year college career. The loan has a duration of ten years and an interest rate of 7.5%, compounded monthly. How much more will Viola’s monthly payment be if the loan is unsubsidized than if the loan is subsidized? Round all dollar values to the nearest cent.

A few months before, a major B2B supplier raised prices of its products 10 percent to cover changes in market conditions. He was surprised to find how the orders from his normal customers plummeted. His normal order was $1,100. After the price increase, the average order dropped by 25 percent. He became concerned that customers might look elsewhere. For this reason, he decided to start offering discounts. When one of his loyal customers, David, purchases $950 worth of product for his firm, the supplier gives David the terms "4/20 net 30." He wants to maintain his relationship with David and would ideally like to receive payment in less than a month. Refer to Scenario 19.3. Consider how the average order amount changed when prices were raised $75. The elasticity of demand is _______. With this in mind, the product can best be described as _______.

In which of the following situations will total revenue increase? A. price elasticity of demand is 1.2 and the price of the good decreases B. price elasticity of demand is 3.0 and the price of the good decreases C. price elasticity of demand is 0.5 and the price of the good increasesD. all of the above

The Patersons bought a home that was newly constructed in 2007 for $275,000. They sold the home in 2015 for $255,000. Which of the following statements is correct regarding the sale of the house?a. The 2015 sale increased 2015 GDP by $255,000; and caused 2007 GDP to be revised downward by $20,000.b. The 2015 sale increased 2015 GDP by $255,000 and had no effect on 2007 GDP.c. The 2015 sale affected neither 2007 GDP nor 2015 GDP.d. The 2015 sale reduced 2015 GDP by $20,000 and had no effect on 2007 GDP.