The Concept of General Average Is Exclusively Used in Marine

question 34

True/False

The concept of general average is exclusively used in marine insurance.

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Definitions:

Outstanding Shares

The total number of shares of a corporation that have been issued and are currently held by investors, including public shareholders and company officers.

Dividends Paid

The portion of a company's earnings that is distributed to its shareholders as a return on their investment.

Investment Account

An account held at a financial institution which allows an individual to deposit funds and make investments in securities and other assets.

Debit/Credit

Fundamental aspects of all accounting transactions, where debits are entries on the left side, and credits are entries on the right side, used to record business transactions in the ledger.