The physical damage to the parked car

Reference no: EM131046977

Pablo traded in his 2000 Ford for a new Ford. One week later, he hit an oily spot in the road on his way to work and skidded into a parked car. The 2000 Ford was insured under the PAP with full coverage, including a $250 deductible for a collision loss. At the time of the accident, Pablo had not notified his insurer of the trade-in. The physical damage to the parked car was $8000. Damage to Pablo's car was $5000. Will Pablo's PAP cover either or both of these losses? Explain.

Reference no: EM131046977

Questions Cloud

How the message will be executed in the advertising campaign : You are now ready to produce the creative execution. The creative execution tells promotion executives how the message will be executed in the advertising campaign.

Found to be legally liable in the amount : James, age 18, lives at home and occasionally drives the car of his friend, Mary. Mary carries $300,000 of liability insurance on her car under a PAP. James is also insured under his mother's PAP, which provides $500,000 of liability coverage.

What is the ethical issue in the article : "What is the ethical issue in the article" Selling a new generation on Guns", by Mike Mc Intire in the the NY times

What are the two principal problems facing the auditor : Outline the audit steps that you would take to enable you to render an unqualified opinion with respect to the inventory. (You may omit consideration of tests of unit prices and clerical accuracy.)

The physical damage to the parked car : Pablo traded in his 2000 Ford for a new Ford. One week later, he hit an oily spot in the road on his way to work and skidded into a parked car. The 2000 Ford was insured under the PAP with full coverage, including a $250 deductible for a collision..

Identify the appropriate management assertion : Explain the differences between management assertions, general audit objectives, and specific audit objectives, and their relationships to each other.

Spent on shifting the stocks to new building : After the construction of their new factory building M/s XYZ Co. shifted to it. During this process$ 20,000 were spent on pulling down the old structure and $ 2,000 were spent on shifting the stocks to new building. These expenditures are to be cl..

Processes-procedures for providing informatio : Describe the appropriate work processes/procedures for providing information from and about records, which include the following:

Difference between tests of balances and transactions : For tests of balances, what are the major account balances in the balance sheet need to be examined. Why are these tests important?

User Account

All Pages