A(n)________ Is an Insurance Company That Distributes Its Products to Customers

question 31

Multiple Choice

A(n) ________ is an insurance company that distributes its products to customers without the use of agents.

• A)direct writer
• B)private writer
• C)underwriter
• D)public writer

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Definitions:

Entries

Refers to individual records of financial transactions in accounting, documented in journals and ledgers.

Check

A written, dated, and signed instrument that contains an unconditional order from the drawer that directs a bank to pay a definite sum of money to a payee.

Salaries

Regular payments made to employees for their labor or service, typically expressed as an annual amount but often paid on a monthly or bi-weekly basis.

Adjusting Journal Entry

An accounting record entered at the closing of a financial period to distribute profits and losses to the correct period.