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Describe the four managerial functions.Give a specific example of each.
Insurable Interest
A stake in the value of an entity or event for which insurance coverage can be purchased to protect against loss.
Identified Goods
Goods that are designated for a specific sale or contract, distinguishing them from other inventory.
Bailee
One to whom goods are entrusted by a bailor.
Risk Of Loss
The potential for an asset to decrease in value, or for an investment to not yield the expected return.
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