The Doctrine of Subrogation

question 9

Multiple Choice

The doctrine of subrogation

• A)protects the insured against double recovery.
• B)entitles the insured to sue third parties.
• C)arises where loss is caused to the insured by a third person.
• D)All of these.
• E)None of these.

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Definitions:

Expense Allocation

Expense allocation is the process of distributing expenses across various departments, projects, or products to accurately reflect where the costs were incurred.

Direct Expenses

Costs that can be directly attributed to the production of specific goods or services, such as raw materials and labor directly involved in manufacturing.

Expense Allocation

The process of distributing expenses across multiple accounts or departments based on predetermined criteria or cost drivers.

Floor Space

The total area available for certain purposes within a building, measured in square feet or square meters.