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What is it called when Sales can decline before losses are incurred?
margin of safety
Loss of earnings?
Loss of Earnings is Coverage to reimberse for lost wages due to a covered peril. Such losses are commonly incurred after a covered injury.
What is difference between expenses and losses?
A business (company or individual) earns money - called earning or revenue. To earn this, the entity incurs expenses - such as material, salaries, telecom costs. When you subtract the expenses from the revenue, the result is called 'profit', if it is positive, and 'loss', if negative. So the difference is - expenses are the costs incurred by a business, and loss is the difference between earnings and expenses, (if expenses are more than revenues).
What is external reconstruction of companies in accounting?
It is similar to amalgamation though not exactly the same. In external reconstruction a new company is formed for the purpose of taking over the business of an existing sick company which has incurred huge losses and is facing financial difficulties. Existing company is wound up by selling its business to the newly formed company which is generally similarly named and owned by the same shareholders to a great extent.
What is external reconstruction?
It is similar to amalgamation though not exactly the same. In external reconstruction a new company is formed for the purpose of taking over the business of an existing sick company which has incurred huge losses and is facing financial difficulties. Existing company is wound up by selling its business to the newly formed company which is generally similarly named and owned by the same shareholders to a great extent.http://wiki.answers.com/What_is_external_reconstruction_of_companies_in_accounting#ixzz1aT6UQ0cI
Is one characteristic of a corporation is that its owners are personally liable for any losses incurred by the business?
no
What is it called when Sales can decline before losses are incurred?
margin of safety
What is ibnr?
Incurred but not reported. It's a # insurance companies use to project losses.
What should you claim for?
You should claim for whatever losses you incurred as a result of the accident, whether personal injury or property related losses.
What is the outlay for ensuring satisfactory quality plus the losses incurred for failing to achieve it?
Cost of quality
What is a proprietorships?
A single proprietorship is a solely owned business where the owner fully finances their business with her/his own money and make all the decisions regarding the business operation. If the business prosper, s/he will profit; however if the business fails, s/he is fully responsible and suffers the losses. This type of business structure in mainly found in small businesses such as confectioneries, farms, and accounting consulting services.
What is the definition of a calendar year loss ratio?
Calendar Year Experience: Simplistically, the matching of all losses incurred (not necessarily occurring) within a given twelve-month period, usually beginning on January 1, with all premium earned within the same period of time. Incurred losses will include the change in IBNR More specifically, the total value of all losses incurred (not necessarily occurring) during the calendar year is divided by the Accounting Earned premium for this same exposure period. Losses incurred are equal to the sum of losses paid, plus the outstanding loss reserves at the end of the year, less the outstanding loss reserves at the beginning of the year. Once calculated for a given period, calendar-year experience never changes.
Can you give me a sentence using the word incur?
The investor incurred substantial financial losses due to the stock market crash.
Should an uninsured driver that was hit by an insured driver call a lawyer?
If you incurred losses by injury or your property was damage, I would.
What is the business of business?
The profit or the net margin, losses or the risk etc.
Loss of earnings?
Loss of Earnings is Coverage to reimberse for lost wages due to a covered peril. Such losses are commonly incurred after a covered injury.
What is typical amount for auto accident settlement with minor injury?
The amount typical is commensurate to the actual damages and accompanying losses incurred by the claimant.
