Which Statement Regarding Section II of an Unendoresed Homeowners 3

question 27

Multiple Choice

Which statement regarding Section II of an unendoresed homeowners 3 policy is true?

• A) Liability arising from intentional property damage caused by the insured's teenager is covered.
• B) Liability arising out of a home business is not covered.
• C) Medical expenses for the insured's injured child are covered.
• D) First-aid expenses for injuries suffered by guest at the home are not covered.

---

Definitions:

Purchase Of Land

The acquisition of land for business operations or investment, recorded as a fixed asset in the company's balance sheet.

Revenue Recognition Principle

An accounting principle that dictates the specific conditions under which revenue is recognized or recorded in the accounts.

Accounting Principle

Accounting principles are the rules and guidelines that companies must follow when reporting financial data, ensuring accuracy, consistency, and fairness in financial reporting.

Limited Liability Company

A legal form of business organization that combines elements of a corporation and a partnership or sole proprietorship, limiting the owners' personal liability.