Which of the Following Losses Would Be Covered Under Section

question 21

Multiple Choice

Which of the following losses would be covered under Section II of an unendorsed Homeowners 3 policy?

• A)The homeowner accidentally dropped a bowling ball,injuring another bowler's foot.
• B)The homeowner's nanny was injured on her day off while hiking at a state park.
• C)The insured slandered a city council member at a city council meeting.
• D)The homeowner's dog bit the homeowner's daughter.

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Definitions:

Inventory Turnover

A proportion demonstrating the rate at which a company's goods are sold and then replenished over an interval.

Cost of Goods Sold

Direct costs tied to the process of producing goods a company puts up for sale, inclusive of labor and materials.

Average Inventory

A means of measuring the approximate amount of inventory a company holds over a certain period, aiming to balance holding costs against stockout risks.

Gross Profit

The difference between sales revenue and the cost of goods sold before deducting overheads, interest, tax, and other expenses.