A Peril Is Defined As

question 48

Multiple Choice

A peril is defined as:

• A)the proximate cause of the loss
• B)the chance a loss will occur
• C)a morale hazard
• D)a contingency that increases the chance of a loss

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Definitions:

Rights Of Partners

Rights of partners pertain to the entitlements and privileges granted to members of a business partnership, such as sharing profits, management participation, and access to information.

Personal Expenses

Costs for personal needs or consumption, not associated with business operations or expenses deductible for tax purposes.

Management

The process of dealing with or controlling things or people, often within an organizational setting.

Law Of Partnership

Legal principles that govern the formation, operation, and dissolution of a partnership.