TRUE or FALSE: Incurred but not reported (IBNR) is a type of reserve account used in the insurance industry as the provision for claims that have taken place but have not yet been reported to an insurer.
TRUE or FALSE: Incurred but not reported (IBNR) is a type of reserve account used in the insurance industry as the provision for claims that have taken place but have not yet been reported to an insurer.
Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter15: Preparing Adjusting Entries And A Trial Balance
Section15.1: Planning Adjusting Entries
Problem 4AYU
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TRUE or FALSE: Incurred but not reported (IBNR) is a type of reserve account used in the insurance industry as the provision for claims that have taken place but have not yet been reported to an insurer.
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