The Purpose of a Household Inventory Is to

question 87

Multiple Choice

The purpose of a household inventory is to

• A)reduce insurance costs.
• B)lower the chance of negligence
• C)obtain personal property floater coverage.
• D)increase liability coverage.
• E)verify owned property.

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Definitions:

Net Present Value

A financial metric that calculates the difference between the present value of cash inflows and the present value of cash outflows over a period.

Investment

The allocation of resources, such as time, money, or effort, in the expectation of future returns, typically involving some degree of risk.

Technologically Obsolete

A state in which a product, service, or method has become outdated due to advances in technology, making it less efficient or desirable compared to newer options.

Numerically Controlled

Pertaining to machines or processes that are operated by precise instructions coded in the form of numbers.