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The underlying principle of the current/noncurrent method is
Property
Items, assets, or possessions owned by an individual or entity, including tangible and intangible forms.
Specific Insurance
Insurance policies designed to cover specific risks, objects, or scenarios, offering tailored protection against particular perils.
Collision Insurance
A type of automobile insurance that protects the insured against any loss arising from damage to the insured’s automobile caused by accidental collision with another object or with any part of the roadbed.
Annuity
A guaranteed retirement income.
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