A Building Owned by X Company Is Insured for $100

question 31

Multiple Choice

A building owned by X Company is insured for $100 000,but the insurance contract contains an 80 percent co-insurance clause.The building is damaged by fire to the amount of $20 000.The depreciated replacement value of the insured property is $250 000.The insurance company will then pay

• A)$8000.
• B)$15 000.
• C)$5000.
• D)$10 000.
• E)$20 000.

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Definitions:

Mission Statement

A short statement defining an organization's purpose and primary objectives, guiding its internal decision-making.

Employee Retention

The strategies and practices employed by organizations to keep their employees from leaving to work elsewhere, focusing on improving job satisfaction, career development, and work-life balance.

Motivation

The psychological processes that arouse, direct, and maintain human behavior towards attaining some goal.

Social Capital

The networks, relationships, and norms that contribute to societal cooperation and collective well-being.