Côntrast the implementation of various bonds and insurances as needed by the Client, contractor, and Statute.

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 revenue bonds

A: Answer: A revenue bond is also regarded as a municipal bond that is sponsored by specific individual…

Q: Explain the accounting for an assurance-type warranty

A:

Q: Briefly explain the difference between an insurance and an assurancepolicy?

A: Insurance policy and Assurance policy are two different policies.  Insurance policy provides…

Q: Describe the Comprehensive General Liability Insurance?

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

Q: Define current liabilities and list the typical liability categories included in this…

A: Current liability: Current liability is a debt that the companies need to pay the debts from…

Q: Which of the following is not an insurance management tool? Group of answer choices deductibles.…

A: Insurance management: Insurance Management is the administration of all insurance requirements, both…

Q: risk" factor

A: Risk is a term that shows the possibility of injury or loss to the health, business, vehicle, etc.…

Q: Which of the following is a type of captive formed to write most types of liability insurance…

A: A captive insurance firm is a special arrangement for insurance, which is a subsidiary insurer to…

Q: Differentiate between Current liabilities, Non-Current Liabilities and Provisions. Provide an…

A: The liabilities are the amount payable by the business to the outsiders or creditors.

Q: iscuss federal deposit insurance coverage. What is its significance?

A: Federal reserve who is authority over banks and is responsible for taking care of interest of the…

Q: Which of the following information should be disclosed in the summary of significant accounting…

A: Significant accounting policies are the policies used in preparation and presentation of financial…

Q: describe the role of debt covenants in protecting creditors;

A: Debt covenants are restrictions that lenders (creditors, debt holders, investors) put on lending…

Q: Define bond insurance

A: Bond Insurance is also known as financial guarantee insurance. As the name suggests, it means that…

Q: Differentiate contract of pledge from contract of mortgage.

A: Contract of Pledge is used for Movable Assets and contract of Mortgage is used for Immovable Assets.…

Q: Discuss in brief the types of collateralized debt Obligation. Please explain in details.

A: Solution-  Collateral Debt Obligation [CDO] is a sophisticated project financing outcome that's also…

Q: Insurance policies form the basis of an insurance company’s ________________. a. Financial…

A: Financial securities are an important part of an insurance company's investment portfolio, as they…

Q: Bond discount should be presented in the financial statements of the issue as a(n) Contra liability…

A: >Bond discount is recorded in the books of account as the difference between Face value of Bond…

Q: Discuss the circumstances that require a contingent liability to be disclosed in the notes to the…

A: A contingent liability is a liability that may (or may not) occur in future.   The occurrence of…

Q: Define each of the following terms:h. Indentures; mortgage bond; debenture; subordinated debenture

A: Indentures: They are legal contract that has the details of the bond and the obligation of the buyer…

Q: What are the reasons for statutory debt limits and explain the terms debt margin and overlapping…

A: A debt service fund is a type of governmental fund used to account for the payment of principal and…

Q: 2) Explain why offer and acceptance is essential to the formation of a binding insurance contract?

A: An insurance contract is a legally binding agreement between the insurer and the insured. It is a…

Q: Define debt service requirements

A: Debt service requirement is very much essential for a company if it wants to maintain a good credit…

Q: Describe how the matching principle applies to contingent liabilities (hint: warranties).

A: Introduction:- Contingent liability may or may not occurred in the future. Matching principles…

Q: Which of the following items is required by the Life Insurance and Annuity Replacement Rule? A. A…

A: The answer is stated below:

Q: A risk-based deposit insurance program is defined as: a. A program that assesses the concentration…

A: Risk-based deposit insurance is insurance with premiums that reflect how prudently banks act when…

Q: what is the role of the Insurance Core Principles as it relates to underwriting risks, in the…

A: It is very important to evaluate and regulate the insurance supervision. There will be flaws in the…

Q: Describe the accounting treatment for an assurance-type warranty and for a service-type warranty.

A: An assurance-type warranty is a warranty that guarantees the quality and reliability of a product…

Q: Define contingent liability. What is the criteria to determine whether or not to report the…

A: Liability means the obligation to pay to the other parties by transferring the economic benefits…