Your clients inquire if the Liability section of their Tenants Comprehensive policy would cover damage amounting to $500to property they had rented from a specialty firm. The property consisted of furniture and supplies which fell off a truckwhile they were unloading it for a reception at their home. What would be your reply?OA) The Voluntary Property Damage coverage applies, but is limited to $250.OB) The damage would be covered subject to the deductible.OC) There is no coverage.OD) Coverage would depend upon whether or not they were legally liable. When information contained on a form filed with RIBO becomes obsolete, notice of the change correcting the informationmust be filed within 30 days of the change taking place. Which one (1) of the following changes does NOT requirereporting to RIBO?OA) A change in the broker's earnings.OB) The broker-employee leaves a firm.OC) A change of employment by a broker from one brokerage firm to another occurs.OD) A new broker is employed by a broker firm.

Insurance is a contract between an individual or entity (the insured) and an insurance company (the…

Answered: Your clients inquire if the Liability…

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter22: Accounting For Changes And Errors.

Section: Chapter Questions

Problem 13GI

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