IIA
IIA-CFSA · Question #415
IIA-CFSA Question #415: Real Exam Question with Answer & Explanation
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Question
Recent activities in the marketplace have caused your company to comply with requests from 50 percent of your policyholders to cancel their policies. The company complies and refunds them amounts due. Your audit of this should ensure these refunds were charged against what account?
Options
- AIncurred but not reported (IBNR)
- BUnearned premium reserve
- CGoodwill
- DAllocation for uncollectible accounts
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