Choose the Word or Phrase in [ ] Which Will

question 29

Short Answer

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
-Insurance is a tool that can lessen [economic | accident] risk.

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Definitions:

Tax Purposes

Considerations or actions taken with regard to taxation, such as reporting income, deductions, and credits.

Bonds Redeemed Early

The process by which an issuer repays the principal amount of bonds before their maturity date.

Redemption Price

The amount paid to redeem a security or investment, often found in the terms of bonds or preferred stock.

Carrying Value

The book value of assets and liabilities as presented on a company’s balance sheet, which is the original cost minus any depreciation, amortization, or impairment costs.