Personal Risks Are the Uncertainties Surrounding the Loss of Income

question 84

Multiple Choice

Personal risks are the uncertainties surrounding the loss of income or life due to all except:

• A)professional misconduct.
• B)premature death.
• C)illness.
• D)disability.
• E)unemployment.

---

Definitions:

Note Receivable

A financial asset representing a written promise to receive a specific amount of money from a debtor at a future date or on demand.

Bank Service Charge

Fees charged by banks for the use of their services, such as account maintenance and wire transfer fees.

Cash Short

A situation where the actual cash on hand is less than the expected amount, often detected through cash register or petty cash reconciliations.

Selling Expenses

Costs directly associated with the marketing and selling of products or services.