Given Questionable Management Oversight, a Single Individual May Perform Both

question 35

True/False

Given questionable management oversight, a single individual may perform both the treasurer and controller functions for a corporation.

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Definitions:

Time Of Loss

Refers to the specific date and time an event occurred which results in an insurance claim.

Insurable Interest

The stake or financial interest that an individual or entity has in the subject matter of an insurance policy, which must exist at the time of loss for the insurance claim to be valid.

Property Insurance Policy

An agreement that offers monetary compensation to the owner or lessee of a building and its belongings in the event of destruction or theft.

Lessee

A person or entity who leases or rents property from a lessor.