Which One of the Following Types of Coverage Would Pay

question 107

Multiple Choice

Which one of the following types of coverage would pay for damage to your automobile in an accident for which you were at fault?

• A)Property damage liability
• B)Collision
• C)Comprehensive physical damage
• D)No-fault insurance
• E)Assigned risk pool coverage

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Definitions:

Restricted

Designated or limited to specific purposes, unable to be freely used or accessed.

Committed

Being pledged or obligated to do something, often referring to resources or efforts directed towards a specific cause or project.

Fiduciary Funds

These are funds used to account for resources held by an entity in a trustee or agent capacity for others, ensuring these assets are managed according to the trust agreement.

Proprietary Funds

Governmental accounting term for funds used by an organization that behaves like a private business, where the costs of providing goods or services to the public must be recovered through sales and fees.