Home Insurance Policies Include Coverage for All of the Following

question 57

Multiple Choice

Home insurance policies include coverage for all of the following except

• A) Credit card fraud.
• B) The cost of removing damaged property.
• C) Temporary repairs after a loss to prevent further damage.
• D) Business property.
• E) Emergency removal of property to protect it from damage.

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Definitions:

Value in Use

The present value of future cash flows expected to be derived from an asset, indicating its utility to the owner.

Straight Line

A method of calculating depreciation and amortization that evenly spreads the cost of an asset over its useful life.

Sale Price

The amount of money for which a product, asset, or service is sold in the marketplace.

Revaluation Model

An accounting method allowing for the increase or decrease of an asset's value on the balance sheet, based on current fair values.