3-62 the Largest Liability Category on the Balance Sheet of U.S.life

question 42

Multiple Choice

3-62 The largest liability category on the balance sheet of U.S.life insurance companies as of year-end 2009 was

• A)net policy reserves.
• B)policy claims.
• C)premium and deposit funds.
• D)commission,taxes and expenses.
• E)capital surplus.

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Definitions:

Goods

Goods are tangible items that are manufactured or produced for sale or use, including consumer products, machinery, food items, and more.

Distinctive Mark

A unique symbol, logo, or brand that is used to identify and differentiate the goods or services of one entity from those of others.

Producer

A producer is an individual or entity that creates goods or services, often in the context of agriculture, manufacturing, or entertainment.

Consumers

Consumers are individuals or entities that purchase goods or services for personal use and not for manufacture or resale.