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What is parts costing?
Parts costing is when a company put aside some a money which will be spent on parts for a job.
What is revenue reserve and its example?
The revenue reserve is the retained earnings which are shown in the company's balance sheet as part of the shareholders' funds and are set aside to use to continue to pay dividends even if the company makes a loss. The example of the revenue reserve are the credit balance of the Profit and Loss Account, General Reserve and etc...
What is the concept of escrow account?
An escrow account is funds put aside for a future liability. Two common examples relating to a home: If you bought a house and there was a repair needed to be done and paid for by the seller, but the repair couldn't be completed before settlement, the seller might be required to set aside adequate funds in an escrow account, controlled by a third party. When the repair was completed, the third party would pay the bill from the escrow account and return any remaining funds to the seller. Also, some mortgage companies require the home owner to pay money into an escrow account every month to cover 1/12 of the cost of real estate taxes and homeowners insurance. Then the mortgage company issues payment for those items when they are due. This way, the mortgage company knows that those payments will be made, protecting their collateral.
What is general reserve?
General Reserve, in short is the part of reserve amount kept by the company out of its profits for future purpose. Example, if the company might not expect any contingencies or unforseen happenings in the future. Usually, companies keep 20% aside the general reserves out of the total profit earned for a particular year or a certain period.
What is the tax you have to pay if any on a purchased warranty?
The only tax that comes to mind as being involved could be sales or use tax. In most states, an additional warranty or insurance policy, as an intangible, is not sales taxable. As an aside, this can cause interesting results for the company that provides it performs and provides parts & labor. (However, like all sales tax things, it depends on where you are and the result it is not absolute). A warranty as part of the sale (generally the included ones by the manufacturer) is considered part of the product and tax would follow that item..
What is the procedure for opening an insurance company?
This is extremely complicated. In addition to having the licensing and experience to do so, you have to have a lot - I mean a LOT of cash to set aside to pay claims, equipment, rent, plus accounting, claims and underwriting professionals - and that's just the beginning. Once you decide where you'd like your company to be domiciled, contact that state's department of insurance for detailed instructions and information.
What does it take to start your own property insurance company?
This is extremely complicated. In addition to having the licensing and experience to do so, you have to have a lot - I mean a LOT of cash to set aside to pay claims, equipment, rent, plus accounting, claims and underwriting professionals - and that's just the beginning. Once you decide where you'd like your company to be domiciled, contact that state's department of insurance for detailed instructions and information.
What does risk retention mean?
Risk retention is a form of self-insurance. An organization sets aside a reserve fund to be able to offset unexpected claims.
Is this true or false territorial claims are to be put aside and claims not recognised?
The Antarctic Treaty documents claims, recognizes none, and prohibits additional claims.
what company's in Georgia have great quotes on insurance for uninsured motorist's?
The best insurance agency is a matter of opinion. That aside, I think State Farm is the best insurance agency to use in Georgia. They offer great rates on uninsured motorists.
What is required for someone to open an insurance agency?
The first thing you need to open an insurance company is a corporate license. The next thing you'll need is insurance products that you will carry. You will also need to put money aside for leases, office supplies, and a receptionist.
Does a company have to offer health insurance to all full-time employees?
No law requires employers to offer any medical benefits to anyone, aside from workers comp.
What is second injury fund?
A second injury fund is a fund set aside by insurance companies to reimburse employers. The fund reimburses the company for any compensation payments made by the company themselves while an employee was injured.
What Physical Damage is usually covered with Auto insurance?
Damage to both people and property are covered by auto insurance. Aside from protecting the insured against the claims of others (for bodily harm or property damage, for example), auto insurance typically helps pay for medical expenses needed by the insured or other person involved in the accident AND it covers costs leading to loss or damage of the automobile stated in the insurance.
Your husdand died of AIDS but no doctor tested for it can you get his life insurance?
Typically yes, unless the insurance company has proof that your husband was aware of his AIDs before getting the life insurance, then they might try to fight it. Aside of that, typically the cause of death doesn't effect things unless it's suicide.
If you are informed you need a follow-up medical test shortly after starting on a new insurance plan can the insurance company claim you have a preexisting condition?
Yes, putting prejudice aside, facts are facts. If there is medical documentation from the past showing a condition, that is considered "pre-existing"
What company is better Blueshield insurance or CDPHP insurance?
Hands down, CDPHP. Aside from being among the best in the nation for quality and customer service, they excel in civic engagement and wellness efforts. BlueShield is also a quality health plan, but CDPHP is by far the best.
