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S left a skillet of hot oil on the stove, which torched the kitchen cabinets. In insurance, the fire is an example of: a. peril b. risk c. liability d. abandonment

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

S left a skillet of hot oil on the stove, which torched the kitchen cabinets. In insurance, the fire is an example of:

a. peril

b. risk

c. liability

d. abandonment

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