Which of the Following Is a Loss That Companies Would

question 17

Multiple Choice

Which of the following is a loss that companies would self-insure?

• A) Product breakage
• B) Fraud
• C) Unexpected business interruptions
• D) Officer liability

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Definitions:

Void

Having no legal force or effect; not valid or legally binding.

Ultra Vires

Acts performed outside or beyond the powers of the legal authority or corporation’s capabilities.

Consideration

Something of value that is exchanged between parties in a contract, making the agreement legally binding.

Illegal

Activities or actions that are prohibited by law and subject to penalties or punishment.