Time Standards Are Intangible Standards That Are Difficult to Measure

question 41

True/False

Time standards are intangible standards that are difficult to measure.

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Definitions:

Fire Insurance

A type of insurance policy that covers damage and losses caused by fire.

Rule Of 70

A simple way to estimate the number of years it takes for an amount to double, by dividing the number 70 by the annual growth rate percentage.

Interest

The cost of borrowing money or the return on investment for savings and investments, typically expressed as an annual percentage rate.

Risk Averse

Describing individuals or entities that prefer to avoid risk and would rather choose an alternative with a more certain but possibly lower return, than an option with a higher but uncertain return.