Dana Garcia Has a Renter's Policy with a Maximum Limit

question 196

Multiple Choice

Dana Garcia has a renter's policy with a maximum limit for personal property of $30,000.When her apartment suffered fire damage,$15,000 of her personal property was destroyed.The insurance would pay no more than ____ in this case.

• A)$30,000
• B)$20,000
• C)$15,000
• D)$5,000

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Definitions:

Cash Receipts Journal

An accounting ledger that tracks cash transactions coming into the business, documenting all cash sales and receivables.

Chart of Accounts

A structured list of all the financial accounts in the general ledger of a company, used for organizing transactions and financial data.

Signature Coffee Mugs

Customized or uniquely branded coffee mugs that often represent a company, brand, or personal statement.

Revenue Journal

An accounting ledger where revenue transactions are first recorded.