Wilber Robinson Found Out That His Homeowner's Coverage Comes in Handy

question 14

Multiple Choice

Wilber Robinson found out that his homeowner's coverage comes in handy when a neighbor steps on a garden rake and it flips up and causes a concussion.Josh did just that and spent two weeks in the hospital running up a $23,000 bill.Josh was covered under

• A)section II medical payments.
• B)section II personal liability.
• C)section I loss of use.
• D)added liability insurance.
• E)the 80 percent rule.

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Definitions:

Taxes

Compulsory financial charges or levies imposed on individuals or entities by a governmental organization in order to fund public expenditures.

Accounts Payable

Obligations of a company to pay off short-term debts to its suppliers or creditors.

Net Working Capital

This is the difference between a company's current assets and its current liabilities, indicating its short-term financial health and ability to cover short-term obligations.

EBIT

Earnings Before Interest and Taxes, an indicator of company profit excluding costs from interest and income tax.