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The FASB has issued five standards that have direct applicability to private,not-for-profit entities.From the list given below,match each standard to the area it deals with.
Insurance Company
A business that provides coverage, in the form of compensation resulting from loss, damages, injury, treatment, or hardship in exchange for premium payments.
Coinsurance Clause
A provision in insurance policies that requires the policyholder to bear a share of the loss to some specified extent.
Premium Rate
Premium Rate refers to the higher than standard price or fee charged for a product, service, or insurance policy, often in exchange for additional benefits or coverages.
Fire Damages
Loss or destruction of property resulting from fire, encompassing structural and content damage.
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