Soule's Philosophic Practical Mathematics; Designed for the Use of Accountants, Merchants, Business Men, Private Learners, High Grade Commercial Colleges and Normal Schools

Soule's Philosophic Practical Mathematics; Designed for the Use of Accountants, Merchants, Business Men, Private Learners, High Grade Commercial Colleges and Normal Schools

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1910 edition. Excerpt: ...Policy Insurance Law of Louisiana, enacted in 1900, requires that tho insurance on immovable property shall bo the value assessed or appraised "by the insurer, or as by him permitted to be assessed at the timo of the issuance of the policy," and that this value "shall be conclusively taken to bo the true value of the property at the timo of the issuance of the policy, and the true value of tho property at the time of damage or destruction." On this value, Insnrers are obliged to adjust the loss. Tho law, however, gives the insurers the right to restore tho damage or to replace the property destroyed if they prefer to do so, instead of making payment therefor. By this law tho adjustments of loss are easily and expeditiously made, and the vexatious contentions, so ofteu made by tho insurers under the former law, are obviated. TAKING STOCK OR INVENTORYING GOODS. When "taking stock," or inventorying goods and other property preparatory to closing the books and declaring the gains and losses at the close of the fiscal year, or in case of a corporation, at a dividend period, the current market value should he placed upon the goods and all other property, stocks, bonds, etc. Notk.--In the case of stocks and bonds which havo an nnstahlo value and a wide manrin of fluctuation, the average weekly or monthly value is sometimes placed upon them. Circumstances, judgment and ethics are the proper factors to govern such cases. In the case of merchandise, instead of listing every article at the current market value with allowances for depreciation on account of damage, ont of fashion or style, the inventory is often taken on different lines of goods, at the orignal invoice price, and then a specified per centreduction or...show more

Product details

  • Paperback | 392 pages
  • 189 x 246 x 21mm | 699g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236947789
  • 9781236947789