_____ Loss to Property Is the Value That Is Physically

question 24

Multiple Choice

_____ loss to property is the value that is physically destroyed or damaged, not the loss caused by inability to use the property.

• A)Consequential
• B)Accidental
• C)Business interruption
• D)Direct
• E)Indirect

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Definitions:

Contribution Margin

The amount remaining from sales revenue after variable expenses are deducted, indicating how much contributes towards covering fixed costs and generating profit.

Variable Costs

Costs that change in proportion to the level of activity or volume of production in a business.

Pretax Income

The amount of income that a company earns before any taxes are deducted.

Variable Cost

Costs that vary in direct proportion to changes in the level of production or sales activity.