You Can Recover Expenses Under Part C of the PAP

question 63

Short Answer

You can recover expenses under Part C of the PAP only if you are involved in an accident with a(n) _____ driver of an uninsured motor vehicle.

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Definitions:

DR (Debit)

DR, or Debit, represents the left side of a general ledger account and is used to record increases in assets or expenses and decreases in liabilities, equity, and income.

CR (Credit)

An accounting entry that decreases assets or increases liabilities and equity on a company's balance sheet, reflective of the double-entry bookkeeping system.

Tax Expense

The total amount of taxes a company incurs, reflecting both current taxes due and future tax liabilities.

Pre-Tax Book Income

The income of a business before taxes have been deducted, as reported in its financial statements.