The computers at a graphics design company were stolen recently. Which of the following insurance that the company holds will repay the losses incurred?
A. Product liability insurance
B. Crime insurance
C. Surety bonds
D. Credit insurance
Answer: B
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Entrepreneurship Chapter 17
- Which of the following statements is true of joint ventures?
- Partnerships through which two or more businesses combine to undertake a specific economic activity are called _____.
- The most highly desired form of insurance for most employees is _____.
- The most common type of disability coverage is _____ which provides funds to the business to purchase the ownership position of a disabled partner.
- Which of the following is true regarding buyout insurance?
- ___ is a form of insurance that does not accumulate any value over the contract period.
- ____ is the most common kind of coverage on key persons of a business.
- Which of the following statements is true regarding credit insurance?
- ____ repay employers for losses caused by dishonest or negligent employees.
- A _____ is an agreement with an insurance or bonding company that will pay a specified amount in the event that the entity bonded fails to comply with specified contractual requirements.
- Fidelity bonds help to:
- ___ insurance is normally included in insurance on physical assets.
- _____ provides funds to pay the ordinary operating expenses of a business should it be forced to close temporarily because of an insured event.
- Which of the following is true of co-insurance?
- _____ is a contract requirement that works to prevent property owners from deliberately underinsuring.
- Crux Inc. and Synapse Inc. are two competing businesses in the same city. They use the services of the same insurance company and have taken the same policy. Crux has a higher deductible than Synapse for the policy. Which of the following statements would be true in this case?
- A(n) _____ is an amount of loss that is specifically excluded by the insurance contract.
- Which of the following is true of insuring the property of a business?
- Insurable value is defined as:
- ____ are used to pay losses that are not covered by other liability insurance.
- Which of the following is an example of a special type of liability insurance that covers losses from harm caused during the performance of a profession?
- Liability insurance protects a business against:
- Which of the following is true of insurance coverages?
- The most common mandatory insurance coverage includes: