All of the Following Would Be Paid Under the PAP's

question 47

Multiple Choice

All of the following would be paid under the PAP's Other than Collision coverage except:

• A) the car is sprayed with paint as it passes under a bridge being painted
• B) the driver of the car backs off a curb and damages the car's oil pan
• C) the windshield is broken by a "flying" rock
• D) while the insured is adjusting the carburetor, gasoline spills over the engine and causes a fire

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Definitions:

Source Document

An original record, such as an invoice or receipt, that evidences a business transaction.

Indirect Materials

Indirect materials are those materials used in the production process but are not directly traceable to specific products, such as lubricants for machinery.

Work in Process Inventory

Goods that are in the production process but have not yet been completed; represents one of the stages in manufacturing inventory.

Journal Entry

A recorded transaction in the accounting books of a business, which is used to document financial activities and maintain the integrity of financial statements.