Which of the Following Statements About Types of Property Covered

question 35

Multiple Choice

Which of the following statements about types of property covered under the Personal Articles Floater is true?

• A)Golfer's equipment is covered only in the United States.
• B)Furs are covered on a blanket basis without the necessity to schedule individual items.
• C)A higher premium must be paid to insure musical instruments if they are played for pay.
• D)Coverage for silverware and goldware is not available under the Personal Articles Floater.

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Definitions:

Common Stock

Equity shares issued by a corporation as ownership evidence, granting voting rights and a share in the company's profits.

Dividends Payable

Liabilities on a company's balance sheet representing the amount of dividends declared by the board of directors but not yet paid to shareholders.

Cash Dividend

A payment made by a company out of its earnings to shareholders in the form of cash.

Retained Earnings

is the portion of net income that is not distributed to shareholders as dividends but is kept by the company for reinvestment or debt payment.