Use the Following Two Columns of Items to Answer the Matching

question 87

Short Answer

Use the following two columns of items to answer the matching questions below:
-comprehensive coverage
A)pays for injuries to you or people in your car in an accident where you (the driver) are at fault
B)requires individuals who drive cars to purchase a minimum amount of liability insurance
C)a set dollar amount that you are responsible for paying before any coverage is provided by your insurer
D)covers damage to your car when you are at fault in an accident
E)vehicle insurance to cover various injuries, your property, and the property of others
F)covers damage to your car as a result of theft, fire, vandalism, or various other events

• A)pays for injuries to you or people in your car in an accident where you (the driver) are at fault
• B)requires individuals who drive cars to purchase a minimum amount of liability insurance
• C)a set dollar amount that you are responsible for paying before any coverage is provided by your insurer
• D)covers damage to your car when you are at fault in an accident
• E)vehicle insurance to cover various injuries, your property, and the property of others
• F)covers damage to your car as a result of theft, fire, vandalism, or various other events

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Definitions:

Estimated Inventory Returns

An accounting estimation of goods that will be returned by customers or cannot be sold, affecting inventory valuation on the balance sheet.

Expense Account

An account that tracks the costs incurred by a company in its operational activities.

Asset Account

An asset account is a category in accounting that represents resources owned or controlled by a company that have future economic value.

Five-Step Model

A framework used in revenue recognition, specifying the steps to be followed to accurately recognize revenue according to accounting standards.