Which of the Following Refers to a Category Based on Age

question 90

Multiple Choice

Which of the following refers to a category based on age, sex, marital status, and driving habits that is used to set automobile insurance premiums?

• A)rating territory
• B)assigned risk pool
• C)no-fault system
• D)driver classification
• E)use of the vehicle

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Definitions:

Retained Earnings

The sum of a company's earnings up to the present, reduced by any shareholder dividends or distributions.

Total Assets

The sum of all assets owned by a company, including both current and fixed assets, as represented on the balance sheet.

Dividends

Disbursements issued by a company to its shareholders, usually sourced from the organization's earnings.

Income Summary

A temporary account used to transfer the revenues and expenses for an accounting period to the Retained Earnings account.