Which of the Following Factors Have No Effect on Insurance

question 17

Multiple Choice

Which of the following factors have no effect on insurance premiums?

• A) Profit/loss of the company
• B) Types of work performed
• C) Accident history
• D) Number of employees
• E) Participation in accident reduction programs.

Distinguish between financial reporting requirements for different types of organizations (publicly accountable, private enterprises, NFPs, and government organizations).

Recognize how adoption of IFRS varies between code-law and common-law countries, including the adoption process for amendments.

Identify the specific accounting standards applicable to private companies, including factors influencing the choice between IFRS and ASPE.

Understand the variability in global audit quality and its implications for adopting international standards.

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Definitions:

Centralized Structure

An organizational structure where decision-making authority is concentrated at the top levels of management.

Organic Structure

Is a flexible, decentralized organizational structure with less formal procedures, open communication channels, and a focus on adaptability and teamwork.

Decentralized Decision

A management strategy where decision-making powers are distributed among various levels of the organization rather than being concentrated at the top.

Narrow Span

a management structure where a supervisor oversees a small number of subordinates, allowing for close supervision and control.