A ________________ Clause Allows the Insured to Bear Part of the Loss

question 29

Short Answer

A ________________ clause allows the insured to bear part of the loss when there is damage to the property insured.

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Definitions:

Continuous Budgeting

A method of budgeting that provides for maintaining a 12-month projection into the future.

Budget Procedure

The process of creating a plan to allocate resources and predict income and expenditures over a specific period.

Accounting Department

A department within a company responsible for managing financial records, ensuring compliance with standards, and providing financial reporting and analysis.

Static Budget

A budget that shows the expected results of a responsibility center for only one activity level; it is not changed, even if the activity changes.