The Premiums for Homeowners' Insurance Are Based on Size of Deductible,internal

question 175

True/False

The premiums for homeowners' insurance are based on size of deductible,internal limits,and standard coverage.

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Definitions:

Complete Liquidation

The process of closing a business by selling all assets, paying off creditors, and distributing any remaining assets to shareholders or owners.

Basis

The amount of investment in property for tax purposes, used to determine the gain or loss on the sale, exchange, or other disposition of the property.

Ownership Interest

Ownership interest refers to the rights and claims an individual or entity has on a property or business, often represented in terms of shares or equity.

Fiscal-Year End

The completion of a one-year, or 12-month, accounting period used by governments and businesses for financial reporting and budgeting.