Jasmine Is Discussing an Alteration to Her Current Business Insurance

question 62

Multiple Choice

Jasmine is discussing an alteration to her current business insurance coverage.Which of the following will her insurer most likely recommend to Jasmine for this purpose?

• A) additional policy
• B) rider
• C) new policy
• D) endorsement

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Definitions:

Consolidated Net Income

The total amount of net income earned by a parent company and its subsidiaries, presented in the consolidated financial statements.

Non-Controlling Interest

A financial interest in a subsidiary not attributed to the parent company, representing minority shareholders' equity in the subsidiary's net assets.

Bonds Payable

Long-term liabilities representing money owed by a corporation or government to bondholders, to be repaid at a specific future date.

Straight Line Amortization

A method of amortizing an intangible asset evenly over its useful life.