The Manner of Recognizing Revenue on Insurance Contracts Is Unique

question 55

True/False

The manner of recognizing revenue on insurance contracts is unique for the insurance industry.In general,the duration of the contract governs the revenue recognition.

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Definitions:

Business Ethics

A form of applied ethics that examines ethical principles and moral or ethical problems that arise in a business environment.

Public Disclosure

The act of making information or data available to the general public, often mandatory for government bodies and public companies.

Ethical Behavior

Conduct that is consistent with what society, individuals, or businesses consider to be good values or moral principles.

Organizational Commitment

The psychological attachment and loyalty an employee has towards their organization, influencing their willingness to remain part of the team.