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Accounting Assignment/ Professional Essay Writers

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1. For each of the months January-June in the coming year prepare, a budget broken down in three parts:
a. Market size and volume.
b. Volume for National Auto Insurance (number of policies outstanding).
c. Premium revenues generated.
For (a) above, you should have six rows of data, as follows: total number of households (i.e., market size), percentage of households owning one or more cars; number of cars owned per household; percentage of car owners with insurance; the total number of insured cars (marketwide); market share of National Auto; and number of autos insured by National Auto, end of the month. For (b) above, your budget should have four rows, as follows: number of cars insured, beginning of the month; cancellations during the month; the number of insured autos, end of the month; and average number of insured autos during the month. For (c) above, your budget should have the following three rows: average number of cars insured during the month; average insurance premium per car per month; total monthly premium revenue.

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2. What additional real-life refinements do you envision for the budgets you prepared above in (1)? What additional budgets would you anticipate preparing for the company if you were in charge of the budget-preparation process?
3. The budgets you prepared above in (1) can be referred to as driver-based budgets. List some of the pros and the cons of such budgets, relative to traditional budgeting practices. Get Accounting Help Today

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