Williams Company Installed Smoke Detectors,a Sprinkler System,and Fire Extinguishers in Its

question 57

Multiple Choice

Williams Company installed smoke detectors,a sprinkler system,and fire extinguishers in its new manufacturing facility.These devices are all examples of

• A)risk control.
• B)noninsurance transfer.
• C)risk avoidance.
• D)risk retention.

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Definitions:

Liabilities

Financial obligations or debts owed by a person or business to others, required to be repaid over time.

Operating Expense Fee

Fees charged by mutual funds and investment companies for the cost of managing the fund, including administrative and management services.

Front-End Load Fee

A charge applied at the time of purchase of an investment, typically pertaining to mutual funds.

12b-1 Fee

A fee that mutual funds may charge for marketing, distribution, and service expenses, expressed as a percentage of assets under management.