Which of These Is Not a Condition Precedent or Subsequent

question 40

Multiple Choice

Which of these is not a condition precedent or subsequent under the "duties after loss" provisions?

• A)duty to give immediate notice
• B)duty to commence suits within one year of a loss
• C)duty to cooperate with the insurer at trials
• D)duty to hire an attorney to represent you if you challenge denial of your claim

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Definitions:

Statement of Cash Flows

A financial statement showing the changes in a company's cash and cash equivalents over a period, highlighting cash inflows and outflows from operating, investing, and financing activities.

Indirect Methods

A technique used in cash flow statement preparation that adjusts net income for changes in balance sheet accounts to calculate operating cash flow.

Direct Methods

A way to prepare the cash flow statement where actual cash flow information from the company’s operations is used, directly showing sources and uses of cash.

Operating Activities

Activities that constitute the primary or main activities of an organization, such as sales of goods or services, and are reported on the statement of cash flows.