One of the Advantages of No-Fault Automobile Insurance Is That

question 105

Multiple Choice

One of the advantages of no-fault automobile insurance is that

• A)it does not use the legal system so the overall costs are much lower.
• B)it results in higher jury awards to victims.
• C)the injured receive immediate medical treatment through their own insurance.
• D)the drivers who are at fault face no penalties for their risky behaviours.

---

Definitions:

Balance

In accounting, balance refers to the difference between the sum of debits and credits in an account, often shown on financial statements like the balance sheet.

Aggressive Revenue Recognition

A practice where revenue is recognized before it meets the criteria for recognition, often inflating financial performance.

Liberal Return Policy

A company policy that allows customers to return purchased items with minimal restrictions, aiming to enhance customer satisfaction and trust.

Recognizes Revenue

The process of recording revenue in the financial statements when it is earned and realizable.