Admitted assets are those specifically prescribed by the NAIC Accounting Practices and Procedures Manual or prescribed or permitted by the various jurisdictions. An admitted asset is defined as having probable future economic benefits. It also has three essential characteristics. Which one of the following is out of those characteristics?
A) It embodies a probable future benefit which contributes to cash flow
B) A particular entity can obtain this benefit
C) The transaction giving rise to entity's right to control the benefit has already occurred
D) All of these
Correct Answer:
Verified
Q100: Insurers issuing participating policies sometimes incur dividends
Q101: Generally, a company earns a servicing fee
Q102: _ is an amount of money, loaned
Q103: The Annual Statement reporting requirements for the
Q104: Subsequent to the funding of a loan,
Q106: There are many different sources of CMBS.
Q107: Evidences the fair market value of the
Q108: Direct serving loans method requires a system
Q109: _ allow investments to be made, up
Q110: All operations under common control are combined,
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents