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Home Q & A Board Other Fields Homework Help Business Accounting
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barry barry
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Posts: 11630
Rep: 151 1
9 years ago
River Rafting Adventures of Iowa provides rafts and tour guides to tourists eager to ride the wild rivers of Iowa. Management has determined that there is one chance in a thousand of a client being injured or killed. Settlement of resulting lawsuits have an average cost of $650,000. Insurance with a $50,000 deductible is available. It covers the costs of lawsuits, unless there is evidence of criminal negligence. Based on cost-benefit analysis, what is the most that the business should pay for the insurance?
A) $500
B) $650
C) $600
D) $50
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newstartnewstart
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9 years ago
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