If There Were a $22,000 Loss and a $700 Straight

question 41

Multiple Choice

If there were a $22,000 loss and a $700 straight deductible, the insurer would pay:

• A) $700
• B) $21,300
• C) $22,000
• D) $0

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Definitions:

Operating Segment

A component of a business that engages in business activities from which it may earn revenues and incur expenses, including segments with related products, services, or geographic areas.

Quick Assets

Liquid assets that can be rapidly converted into cash without significantly affecting their value, including cash, marketable securities, and receivables.

Current Receivables

Financial assets expected to be converted into cash within one year, including money owed by customers (accounts receivable).