Replacement-Cost Protection Is an Option Available on Some Homeowner's Insurance

question 119

True/False

Replacement-cost protection is an option available on some homeowner's insurance policies (including the renter's form) that pays the full replacement cost of any personal property.

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Definitions:

Asset

An economic resource controlled by an entity that is expected to produce future benefits.

Revenues

The total amounts of money generated by a company from its normal business operations, before any expenses are subtracted.

Net Profit Margin Ratio

A financial performance metric that measures the percentage of net income derived from total revenue, showing how much of each dollar earned by the company is translated into profits.

Profit

The financial gain, particularly the difference between the amount earned and the amount spent in buying, operating, or producing something.