Liability Items on an Insurer's Balance Sheet That Reflect Obligations

question 41

Multiple Choice

Liability items on an insurer's balance sheet that reflect obligations that must be met in the future are called

• A)pre-paid expenses.
• B)reserves.
• C)surplus.
• D)nonadmitted assets.

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Definitions:

Goldenrod Gall Size

Refers to the size variation of plant outgrowths, caused typically by insect larvae on goldenrod plants, which serves as a protective and nourishing habitat for the larvae.

Heritable

Traits or characteristics that can be passed from parents to offspring through genes.

Viability

The ability of an organism to survive, grow, and develop in its environment.

Produce Offspring

The biological process through which organisms generate new individuals of the same species, contributing to the continuation of the species.