explain the principles of classical immunization strategy to meet a single liability obligation

Q: Explain the four legal principles associated with insurance contracts in detail, stressing the…

A: Insurance is a contract, represented by a policy, in which a person or entity receives financial…

Q: Define Refund Liability.

A: Refund liability: When a company sells its products with a right of return to customers it has to…

Q: Determine when a liability can be classified as a noncurrent obligation.

A: Liabilities are obligations arising from past transactions and payable in assets or services in…

Q: Describe what is the assumed liability?

A: An assumed liability is an obligation under the terms of the agreement assumed by a party. Insurance…

Q: Define and explain the nature and concept of the current liability and non-current liability.…

A: Entity have two types of liability a short term liability and a long term liability . The difference…

Q: At what point would it be necessary to purchase a Personal Liability Umbrella policy?

A: Umbrella policies are relatively inexpensive so they are worth the inevstment.

Q: Distinguish between a current liability, such as accounts payable, and a provision.

A: Current liability:   Current liability refers to the debts of an organization. It is an obligation…

Q: Describe the Comprehensive General Liability Insurance?

A: Answer: Comprehensive general liability insurance is an old concept for general liability insurance,…

Q: Differentiate between “Compensatory contract” and “Non-Compensatory contract”. Does the concept of…

A: “Since you have asked multiple questions, we will solve the one question for you. If you want any…

Q: Define a “liability” by listing its essential characteristics (not types of) as provided by our…

A: Liability :— It is a Financial obligation that is to be settled in the  future date.  Suppose an…

Q: Which of the following sections of a commercial general liability policy contains information about…

A: Commercial General Liability (CGL) policy: You can safeguard your firm from financial ruin with a…

Q: Define the term contingent liability.

A:

Q: The consideration received from a contract with a customer that does not meet the criteria unde…

A: The objective of Philippines financial reporting standard 15 (PFRS 15) is the establishment of…

Q: Are they any specific considerations  that must be taking into account when focusing on liability…

A: Liability: A liability is the amount of money that a company owes for the benefits enjoyed.…

Q: Q1 (a) What attributes should an item or transaction exhibit in order to be classified as a…

A: Liability is an obligation which is to be paid at some future date. It is shown in the balance…

Q: Define accrued liability

A: Accrued Liability is an expense that was incurred before the end of the current period but has not…

Q: What is a contingent liability?

A: Liabilities are legitimately restricting commitments that are payable to someone else. In accounting…

Q: According to IAS 37 - Provisions, Contingent Liabilities, and Contingent Assets choose two of the…

A: IAS 37 is accounting standard which deals and provides guidelines about provisions and the…

Q: A contingent liability whose payment is generally probable

A: Contingent liability is the liability that may or may not happen in the future based on an event.…

Q: Three of the following are requisites of an obligation. Which is the exception? Efficient cause…

A: The four essential elements of an obligation are: an Active Subject, a Passive Subject, The…

Q: What is Joint Liability?

A: The answer is provided as follows:

Q: Is it possible to distinguish between long-term liability and short-term responsibility?

A: The Answer:

Q: In explaining the meaning of obligation in the definition of a liability, the Conceptual Framework…

A: when a liability arises to pay the amount than obligations will arise.

Q: Analyse the concept of “Limited liability”

A: The shareholders of a company or the partners of a partnership have to initially put up some capital…

Q: Which of the following is most likely to be classified and reported as a current liability?

A: Liabilities are reported in the balance sheet of the company.

Q: Which of the following sections of a commercial general liability policy contains information about…

A: Insurance is the process through which an individual or corporation is provided financial coverage…

Q: Define (a) a contingency and (b) a contingent liability

A: a. Contingency: Contingency refers to an uncertain situation in which the uncertain situation exists…

Q: QUESTION 1 Explain the four legal principles associated with insurance contracts in detail,…

A: Insurance:   It is a contract between two parties under which one party takes the responsibility to…

Q: Discuss how Unilateral contract suits insurance than commutative contracts

A: An insurance contract is a kind of legal document that lays down the agreement terms between the…

Q: Which of the following is also called a "liability waiver"? confidentiality clause noncompete…

A: An obligation or a liability is something an individual or organization owes, it usually includes…