Which Is a Consideration for Reporting a Loss to the Insurance

question 36

Multiple Choice

Which is a consideration for reporting a loss to the insurance carrier of the corporation?

• A) Can the loss be absorbed into current net profits for the corporation?
• B) Can personal assets of the accused be sold to recover the loss?
• C) Has the corporation used all reasonable means to mitigate losses?
• D) All of the above are considerations.

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Definitions:

Permanent Income

A theory suggesting that people's consumption choices are more influenced by their expected long-term average income rather than by their current income.

Consumption Spending

Expenditures by individuals and households on goods and services for personal use.

Aggregate Supply

The total supply of goods and services that firms in an economy are willing and able to sell at a given price level in a specific period.

Government Purchases

Expenditures by the government on goods and services that directly increase the economy's productive capacity.