Examlex
The concept of reasonable assurance regarding controls recognizes that the benefits of internal controls should not exceed the cost.
Flood Insurance
A specific insurance coverage against property loss from flooding, typically required for buildings in designated flood-prone zones.
Pooling Of Risk
The practice of spreading financial risks among a large number of participants, thereby minimizing the overall impact to any single participant.
Diversification
The strategy of investing in a variety of securities in order to lower the risk involved with putting money into few investments.
Flood Insurance Premiums
The payments made periodically to an insurance company in exchange for coverage against loss or damage caused by flooding.
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