INSTRUCTIONS: Choose the Word or Phrase in [ ] Which

question 154

Multiple Choice

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.
-If you are sued,the liability portion of your property insurance [must | has no obligation to] defend you.

• A)for the first item
• B)for the second item
• C)if neither item will correctly complete the statement.

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Definitions:

Account Receivable

Money owed to a business by its customers for goods or services that have been delivered but not yet paid for.

Outstanding Debt

The total amount of borrowed money that has not yet been repaid by the borrower.

Average Age

The mean age of a group of individuals or items, calculated by summing their ages and dividing by the number of individuals or items.

Mutual Funds

Investment vehicles made up of a pool of funds collected from many investors for the purpose of investing in securities such as stocks, bonds, and other assets.