All of the Following Statements About Workers Compensation Programs Are

question 9

Multiple Choice

All of the following statements about workers compensation programs are true EXCEPT

• A)They are based on the principle of liability without fault.
• B)Disabled workers are paid for their injuries based on a schedule of benefits established by law.
• C)Options available for complying with the law may include one or more of the following: self-insurance,private insurance,or insurance through a state insurance fund.
• D)Most states have elective laws whereby the employer can choose whether or not to provide workers compensation coverage to employees.

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Definitions:

Co-owner

An individual or entity that shares ownership in an asset with one or more parties.

Former Partners

Individuals who were once part of a business partnership but are no longer associated with the business or each other in that capacity.

Current Partners

Individuals who are actively involved in a partnership at the present time, sharing responsibilities, profits, and losses.

Partnership Books

The official financial records and accounts kept by a partnership, detailing transactions, assets, liabilities, and equity.