Partnership And Corporation Accounting Win Ballada Answer Key.27 【AUTHENTIC】

Damage security

It is a type of security for the auto insurance that pays for the insured against any damages resulting in the loss of property, destruction, or the damage of another’s property by the auto accident caused during the term of the ownership, use and, the management of the vehicle.
Theft insurance accident

It is an accident in which a vehicle is stolen and is not recovered within 30 days from when it was reported to the police, resulting in the handling of the auto insurance. (This handling is available only if you subscribe to an auto insurance to cover for your own vehicle’s damage.)
Undetermined accident

This is an accident in which the amount of the insurance coverage to be paid has not yet been determined because the handling of the accident is not completed after the insurance company has begun the handling of the auto accident.
Insurance money

It is an amount paid by the insurance company with the exclusion of the deductible and the error compensation in the case of an insurance accident occurring in an automotive insurance.
Repair cost

If a vehicle is damaged due to an auto accident, it is the direct cost of repairing the car such as components, labor, and painting, with the exclusion of any indirect damages such as auto transportation cost and rental fee and any error compensation, among others.

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