A Person Who Is Named to Receive the Benefits from an Insurance

question 84

Multiple Choice

A person who is named to receive the benefits from an insurance policy is a(n)

• A) Contract.
• B) Beneficiary.
• C) Policyholder.
• D) Insurer.
• E) Child.

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Definitions:

Fixed Assets

Long-term tangible assets used in operations, such as buildings and machinery, not expected to be converted to cash within a year.

Consolidated Balance Sheet

A financial statement that aggregates the assets, liabilities, and equity of a parent company and its subsidiaries.

Subsidiary Company

A company that is controlled by another company, often referred to as the parent company, through ownership of more than half of its voting stock.

Joint Venture

A business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task or business activity.