Defenses of the Insurer Include

question 69

Multiple Choice

Defenses of the insurer include:

• A) misrepresentation.
• B) judgment pro rata.
• C) judgment pro norma.
• D) revelation.

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Definitions:

Revenues

The overall sum of money a company earns from selling products or delivering services over a specific time frame.

Expenses

The economic costs that a business incurs through its operations to earn revenue.

Balance Sheet

A financial report that offers an overview of a company's financial status at a particular moment, including details on assets, liabilities, and owners' equity.

Statement of Retained Earnings

A financial statement that summarizes the changes in retained earnings for a specific period, including net income, dividends paid, and adjustments.