An Insurance Policy Designed to Protect Only Third Persons from Bodily

question 12

Multiple Choice

An insurance policy designed to protect only third persons from bodily injury and property damage is known as a _____.

• A) floating insurance
• B) public liability insurance
• C) deductible clause insurance
• D) comprehensive policy

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Definitions:

Carrying Cost

The total cost of holding inventory, including storage, insurance, and spoilage costs.

Order Quantity

The number of units of a particular product or service that is purchased in a single order.

Credit Terms

Conditions under which credit will be extended to a borrower, including repayment schedule and interest rate.

Collection Agency

A business that pursues payments of debts owed by individuals or businesses.