In an Insurance Contract, the Payment of Consideration Is Called

question 50

Multiple Choice

In an insurance contract, the payment of consideration is called a(n) _____.

• A) issue
• B) negotiable instrument
• C) premium
• D) valued policy

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Definitions:

Horizontal Analysis

A financial analysis technique that compares historical financial data over a sequence of reporting periods, using a base period to identify trends and growth patterns.

Vertical Analysis

A method of financial statement analysis in which each line item is listed as a percentage of a base figure, facilitating comparisons.

Comparative Balance Sheet

A financial statement that presents the financial position of a company at different points in time, side-by-side, to facilitate comparison.

Plant Assets

Tangible resources that are used in the operations of the business and are not intended for sale to customers.