A Loss Sustained Before the Effective Date of an Insurance

question 35

True/False

A loss sustained before the effective date of an insurance contract will still be covered by the policy.

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Definitions:

Net Increase

The amount by which something grows or rises, subtracting decreases from increases over a period of time.

Financing Activities

Transactions and events that affect long-term liabilities and equity of an organization, such as issuing stock or obtaining a loan.

Financing

The act of providing funds for business activities, making purchases, or investing.

Operations

The day-to-day activities involved in running a business, including production, sales, and administration, aimed at generating profits.