Texas al1 - Study guides, Class notes & Summaries

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Texas Al1 Question and answers 100% correct 2023
  • Texas Al1 Question and answers 100% correct 2023

  • Exam (elaborations) • 17 pages • 2023
  • Texas Al1 Question and answers 100% correct 2023 Accumulated Depresciation - correct answer The total decrease in an item's value over a period of time. Formula: (Annual Depreciation x Number of years used) Actual Cash Value (ACV) - correct answer An item's current market value right before being damaged or destroyed. Formula: (Replacement Cost-Accumulated Depreciation) Adhesion - correct answer One of the characteristics of an insurance contract. One party sets the terms a...
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