Business Chapter 18

Inflation

________ and recessions also affect a business's willingness to grant credit.

deductible

The amount the insured pays for a loss before the ________ pays anything.

smart cards

Currently, ________ are used by businesses for computer security and in cell phones.

debit card

Using a(n) ________ is equivalent to paying with cash.

bureaus

________ are private credit agencies, and they regularly receive data from businesses and publish confidential reports for their subscribers, who are usually retailers or financial institutions.

insurable interest

The policyholder must have ________ to insure any kind of property.

merchant accounts

________ are managed only by a limited number of banks known as acquiring banks.

important risk

If a(n) ________ can not be eliminated or reduced, the business may purchase insurance to protect against a loss that would result in it's failure.

insurance company

Each ________ is required to pay the losses of its insured when and accident occurs, regardless of who was responsible for the accident.

typically, businesses offer three categories of coverage to their employees

medical payments, major medical, and disability