Factors that affect the predictability of claims loss exposure include
A. unexpected increases in inflation.
B. the frequency and severity of loss.
C. the concept of long-tail risk.
D. property versus liability coverage.
E. All of the above.
Answer: E. All of the above.
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Barkin Corporation's accounting records include the following items for the year ending December 31, 2017
Gain on Sale of Equipment $12,000 Gain on Discontinued Operations $75,000 Loss on Disposal of Equipment 5,000 Extraordinary Loss 15,000 Net Sales 650,000 Cost of Goods Sold 285,000 Operating Expenses 120,000 The income tax rate for the company is 25%. Prepare Barkin's income statement for the year ended December 31, 2017. Omit earnings per share. What will be an ideal response
What are the elements necessary to create a bailment?
What will be an ideal response?