Factors That Affect Home Insurance Costs Include

question 168

Multiple Choice

Factors that affect home insurance costs include:

• A) type of structure.
• B) location of home.
• C) credit score.
• D) all of the above
• E) none of the above

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Definitions:

Uncollectible Receivables

Money owed to a company that is unlikely to be paid by the debtor, leading to its classification as a bad debt.

Doubtful Accounts Expense

An estimated expense recognized in the accounting period for accounts receivable that may not be collectible, also known as a provision for bad debts.

Fiscal Year

A one-year period that companies and governments use for financial reporting and budgeting, which does not necessarily coincide with the calendar year.

Direct Write-Off Method

An accounting approach where uncollectible debts are written off directly against income at the time they are deemed nonrecoverable.