_________ Communication Is Anything That Is Not Official, Such as Gossip

question 13

Multiple Choice

_________ communication is anything that is not official, such as gossip or another employee's question about how to do something.

• A) Written
• B) Oral
• C) Informal
• D) Formal
• E) Diagonal

Grasp the legal implications of material misrepresentation in insurance applications.

Understand the insurer's and the insured's duties under an insurance contract.

Comprehend the impact of specific insurance clauses (arbitration, appraisal, antilapse).

Analyze the legal principles involved in adjusting insurance claims.

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Definitions:

Salary Owed

The amount of money that an employer is required to pay to an employee for work performed, which has not yet been paid at the statement date.

Unearned Gym Memberships

Income received by a gym or fitness center from memberships that have been paid for but not yet fully utilized, considered a liability until the services are rendered.

Gym Memberships Revenue

Income received from customers for granting access and use of a gym's facilities.

Adjusting Journal Entry

An entry made in the books at the end of an accounting period to allocate income and expenditure to the correct period.